Stardust Power (NASDAQ:SDST) Raised to Strong-Buy at B. Riley

Stardust Power (NASDAQ:SDST) was upgraded by analysts at B. Riley to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the company. Alliance Global Partners initiated coverage on Stardust Power in a research report on Thursday, February 6th. They set a “buy” rating and a $5.00 target price for the company. Roth Mkm reissued a “buy” rating and set a $1.70 price objective (down from $4.00) on shares of Stardust Power in a report on Wednesday, April 2nd. Finally, Maxim Group assumed coverage on shares of Stardust Power in a research note on Thursday, February 27th. They issued a “buy” rating and a $1.75 target price on the stock. Three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $5.11.

Stardust Power Stock Performance

Shares of Stardust Power stock traded up $0.02 during trading on Tuesday, reaching $0.53. The company’s stock had a trading volume of 166,904 shares, compared to its average volume of 356,153. Stardust Power has a one year low of $0.41 and a one year high of $28.38. The stock has a 50-day moving average price of $0.67 and a two-hundred day moving average price of $4.08.

Stardust Power (NASDAQ:SDST) last announced its earnings results on Thursday, March 27th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.14). On average, research analysts anticipate that Stardust Power will post -0.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Udaychandra Devasper sold 38,943 shares of the company’s 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 completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 185,582 shares of company stock valued at $117,486 in the last 90 days. 65.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

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.