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

B. Riley upgraded shares of Stardust Power (NASDAQ:SDST) to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

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

Stardust Power Trading Up 10.3 %

Shares of Stardust Power stock opened at $0.56 on Tuesday. Stardust Power has a 52-week low of $0.41 and a 52-week high of $28.38. The company has a 50 day moving average of $0.66 and a 200 day moving average of $4.01.

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

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 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 transaction, the chief financial officer now directly owns 161,326 shares of the company’s stock, valued at approximately $109,701.68. This trade represents a 19.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 185,582 shares of company stock valued at $117,486 in the last three months. 65.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Stardust Power

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