Stardust Power Inc. (NASDAQ:SDST) CFO Sells $26,481.24 in Stock

Stardust Power Inc. (NASDAQ:SDST) CFO Udaychandra Devasper sold 38,943 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $0.68, for a total transaction of $26,481.24. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 transaction of $26,481.24.

Stardust Power Stock Performance

NASDAQ SDST traded down $0.01 on Friday, hitting $0.69. 946,391 shares of the company’s stock were exchanged, compared to its average volume of 1,062,224. The firm’s 50-day moving average price is $1.64 and its two-hundred day moving average price is $5.65. Stardust Power Inc. has a fifty-two week low of $0.62 and a fifty-two week high of $28.38.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Maxim Group initiated coverage on shares of Stardust Power in a research note on Thursday, February 27th. They issued a “buy” rating and a $1.75 price objective on the stock. Roth Mkm reaffirmed a “buy” rating and set a $13.00 price objective on shares of Stardust Power in a research note on Wednesday, December 18th. Alliance Global Partners began coverage on Stardust Power in a research note on Thursday, February 6th. They set a “buy” rating and a $5.00 price objective for the company. Finally, Roth Capital raised Stardust Power to a “strong-buy” rating in a research note on Wednesday, November 20th. Three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Stardust Power has an average rating of “Buy” and a consensus price target of $7.94.

Hedge Funds Weigh In On Stardust Power

A hedge fund recently bought a new stake in Stardust Power stock. Geode Capital Management LLC bought a new position in shares of Stardust Power Inc. (NASDAQ:SDST) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 108,459 shares of the company’s stock, valued at approximately $883,000. Geode Capital Management LLC owned 0.23% of Stardust Power at the end of the most recent quarter. Hedge funds and other institutional investors own 32.79% 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.