Insider Selling: Stardust Power Inc. (NASDAQ:SDST) CFO Sells 35,000 Shares of Stock

Stardust Power Inc. (NASDAQ:SDST) CFO Udaychandra Devasper sold 35,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $0.60, for a total transaction of $21,000.00. Following the completion of the transaction, the chief financial officer now directly owns 252,384 shares of the company’s stock, valued at approximately $151,430.40. The trade was a 12.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Udaychandra Devasper also recently made the following trade(s):

• On Thursday, March 6th, Udaychandra Devasper sold 38,943 shares of Stardust Power stock. The shares were sold at an average price of $0.68, for a total value of $26,481.24.
• On Thursday, March 6th, Udaychandra Devasper sold 38,943 shares of Stardust Power stock. The shares were sold at an average price of $0.68, for a total value of $26,481.24.

Stardust Power Stock Performance

Shares of SDST opened at $0.60 on Friday. The company’s fifty day simple moving average is $1.38 and its 200 day simple moving average is $5.40. Stardust Power Inc. has a 1-year low of $0.53 and a 1-year high of $28.38.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Stardust Power stock. Geode Capital Management LLC bought a new stake in Stardust Power Inc. (NASDAQ:SDST) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 108,459 shares of the company’s stock, valued at approximately $883,000. Geode Capital Management LLC owned about 0.23% of Stardust Power as of its most recent filing with the Securities and Exchange Commission. 32.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SDST has been the subject of several research reports. Roth Capital raised shares of Stardust Power to a “strong-buy” rating in a research note on Wednesday, November 20th. 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 target price for the company. Roth Mkm reissued a “buy” rating and set a $13.00 price target on shares of Stardust Power in a research report on Wednesday, December 18th. Finally, Alliance Global Partners began coverage on Stardust Power in a report on Thursday, February 6th. They issued a “buy” rating and a $5.00 price objective for the company. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Stardust Power presently has a consensus rating of “Buy” and an average price target of $7.94.

Stardust Power Company Profile

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.