Stardust Power (NASDAQ:SDST – Get Free Report) announced its quarterly earnings data on Thursday. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.14), Zacks reports.
Stardust Power Trading Down 27.5 %
NASDAQ SDST opened at $0.50 on Friday. The firm’s 50 day moving average price is $0.84 and its two-hundred day moving average price is $4.82. Stardust Power has a twelve month low of $0.41 and a twelve month high of $28.38.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on SDST. Maxim Group began coverage on shares of Stardust Power in a research report on Thursday, February 27th. They issued a “buy” rating and a $1.75 price target on the stock. Alliance Global Partners assumed coverage on Stardust Power in a report on Thursday, February 6th. They issued a “buy” rating and a $5.00 target price on the stock. Finally, Roth Mkm reaffirmed a “buy” rating and set a $13.00 target price on shares of Stardust Power in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $7.94.
Insider Activity
In other news, CFO Udaychandra Devasper sold 38,943 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $0.68, for a total value of $26,481.24. Following the transaction, the chief financial officer now owns 161,326 shares in the company, valued at $109,701.68. This represents a 19.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 185,582 shares of company stock worth $117,486 over the last quarter. Corporate insiders own 65.61% of the company’s stock.
About Stardust Power
Stardust Power Inc is a vertically-integrated lithium refinery that engages in producing battery-grade lithium. The company was founded in 2022 and is based in Greenwich, Connecticut.
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