Stardust Power Inc. (NASDAQ:SDST – Get Free Report) saw a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 534,184 shares, an increase of 93.1% from the June 30th total of 276,658 shares. Currently, 7.7% of the company’s shares are short sold. Based on an average trading volume of 352,819 shares, the days-to-cover ratio is currently 1.5 days.
Stardust Power Price Performance
SDST opened at $0.97 on Thursday. The business has a fifty day simple moving average of $1.84 and a 200 day simple moving average of $2.67. Stardust Power has a 1 year low of $0.91 and a 1 year high of $7.67. The company has a market capitalization of $10.28 million, a PE ratio of -0.49 and a beta of 0.55.
Stardust Power (NASDAQ:SDST – Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.14).
Analysts Set New Price Targets
Read Our Latest Stock Report on Stardust Power
Insider Buying and Selling
In other Stardust Power news, COO Chris Edward Celano sold 25,975 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $2.05, for a total transaction of $53,248.75. Following the completion of the transaction, the chief operating officer owned 102,383 shares in the company, valued at approximately $209,885.15. This represents a 20.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Roshen Pujari sold 102,427 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $2.18, for a total value of $223,290.86. Following the transaction, the chief executive officer owned 502,771 shares of the company’s stock, valued at approximately $1,096,040.78. The trade was a 16.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 169,233 shares of company stock valued at $358,988. 34.51% of the stock is owned by company insiders.
Institutional Trading of Stardust Power
Hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD bought a new stake in Stardust Power in the 4th quarter valued at about $69,000. State Street Corp bought a new position in shares of Stardust Power during the fourth quarter worth approximately $44,000. Finally, Geode Capital Management LLC increased its holdings in shares of Stardust Power by 40.3% during the fourth quarter. Geode Capital Management LLC now owns 59,143 shares of the company’s stock worth $181,000 after purchasing an additional 16,989 shares during the period. Institutional investors and hedge funds own 32.79% of the company’s stock.
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.
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