Stardust Power (NASDAQ:SDST) Announces Quarterly Earnings Results, Misses Estimates By $0.14 EPS

Stardust Power (NASDAQ:SDST) posted its quarterly earnings results on Thursday. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.14), Zacks reports.

Stardust Power Price Performance

Shares of NASDAQ:SDST traded down $0.25 on Friday, reaching $0.44. The company’s stock had a trading volume of 411,282 shares, compared to its average volume of 870,230. Stardust Power has a 52-week low of $0.45 and a 52-week high of $28.38. The stock’s 50-day moving average is $0.88 and its two-hundred day moving average is $4.87.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Alliance Global Partners started coverage on Stardust Power in a research report on Thursday, February 6th. They set a “buy” rating and a $5.00 target price on the stock. Maxim Group started coverage on shares of Stardust Power in a research report on Thursday, February 27th. They set a “buy” rating and a $1.75 price objective for the company. Finally, Roth Mkm restated a “buy” rating and issued 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 assigned a strong buy rating to the stock. According to MarketBeat, Stardust Power presently has an average rating of “Buy” and an average target price of $7.94.

Insider Activity at Stardust Power

In related news, CFO Udaychandra Devasper sold 38,943 shares of Stardust Power stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $0.68, for a total value of $26,481.24. Following the transaction, the chief financial officer now directly owns 161,326 shares in the company, valued at $109,701.68. This trade represents a 19.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 185,582 shares of company stock worth $117,486 in the last quarter. Company 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.