Stardust Power Inc. (NASDAQ:SDST) Sees Significant Growth in Short Interest

Stardust Power Inc. (NASDAQ:SDST – Get Free Report) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 2,847,818 shares, an increase of 142.8% from the September 15th total of 1,172,934 shares. Based on an average daily trading volume, of 90,008,744 shares, the short-interest ratio is currently 0.0 days. Approximately 31.0% of the company’s shares are short sold.

Analyst Ratings Changes

SDST has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Stardust Power in a report on Friday, July 17th. Wall Street Zen upgraded shares of Stardust Power from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company has an average rating of “Sell”.

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Stardust Power Trading Down 22.9%

SDST traded down $0.01 during mid-day trading on Wednesday, hitting $0.03. 64,041,926 shares of the stock were exchanged, compared to its average volume of 10,506,656. The firm’s fifty day moving average is $0.30 and its two-hundred day moving average is $1.45. Stardust Power has a 1-year low of $0.03 and a 1-year high of $7.67. The company has a market cap of $434,145.00, a PE ratio of -0.02 and a beta of 0.68.

Stardust Power (NASDAQ:SDST – Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.04.

About Stardust Power

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Stardust Power Inc is a development-stage company focused on building a domestic lithium supply chain in the United States. The company is developing lithium refining capabilities intended to support the production of battery-grade lithium materials used in electric vehicles, energy-storage systems and other rechargeable battery applications.

Its flagship project is a planned lithium refinery in Muskogee, Oklahoma. The facility is designed to process lithium-bearing feedstock into battery-grade lithium carbonate, with the goal of serving customers in the North American battery and energy-storage industries.

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