Stardust Power (NASDAQ:SDST) Issues Earnings Results, Misses Expectations By $0.14 EPS

Stardust Power (NASDAQ:SDST) announced its quarterly earnings data on Thursday. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.14), Zacks reports.

Stardust Power Price Performance

Shares of NASDAQ SDST traded down $0.25 during mid-day trading on Friday, reaching $0.44. 411,282 shares of the company traded hands, compared to its average volume of 870,230. The stock has a fifty day simple moving average of $0.88 and a 200-day simple moving average of $4.87. Stardust Power has a fifty-two week low of $0.45 and a fifty-two week high of $28.38.

Insider Activity at Stardust Power

In other Stardust Power news, CFO Udaychandra Devasper sold 38,943 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $0.68, for a total transaction of $26,481.24. Following the completion of the sale, the chief financial officer now directly owns 161,326 shares in the company, valued at approximately $109,701.68. This trade represents a 19.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 185,582 shares of company stock valued at $117,486 over the last 90 days. 65.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SDST shares. Alliance Global Partners began coverage on Stardust Power in a research report on Thursday, February 6th. They issued a “buy” rating and a $5.00 target price on the stock. Roth Mkm restated a “buy” rating and set a $13.00 price objective on shares of Stardust Power in a research note on Wednesday, December 18th. Finally, Maxim Group initiated coverage on Stardust Power in a research note on Thursday, February 27th. They issued a “buy” rating and a $1.75 price target for the company. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $7.94.

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.