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

by · The Cerbat Gem

Stardust Power (NASDAQ:SDST – Get Free Report) posted its earnings results on Thursday. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.14), FiscalAI reports.

Here are the key takeaways from Stardust Power’s conference call:

  • Management said Q1 marked a transition from de-risking the Muskogee Lithium Refinery to financing and execution, with the project now positioned for major construction once funding is secured.
  • The company received its air quality construction permit and completed FEL 3 engineering with third-party validation, clearing key regulatory and technical hurdles needed to begin construction.
  • Stardust Power said it advanced financing options by securing access to up to $15 million through an equity financing facility and signing an LOI for up to $150 million in project-level financing.
  • The company expanded its feedstock pipeline with multiple LOIs, including one for up to 15,000 metric tons per annum of lithium chloride from a U.S.-based brine project, supporting its domestic sourcing strategy.
  • Financially, the company remains pre-revenue and still depends on additional capital to fund the next 12 months, while Q1 net loss widened to $5.2 million from $3.8 million year over year.

Stardust Power Price Performance

NASDAQ SDST traded up $0.02 on Thursday, reaching $2.28. 98,006 shares of the company’s stock traded hands, compared to its average volume of 311,258. Stardust Power has a 12 month low of $1.42 and a 12 month high of $7.67. The stock has a 50-day simple moving average of $2.71 and a 200 day simple moving average of $3.36. The stock has a market cap of $22.73 million, a PE ratio of -1.05 and a beta of 0.56.

Insider Buying and Selling

In other Stardust Power news, insider Bruce Czachor sold 17,655 shares of the stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $2.29, for a total transaction of $40,429.95. Following the transaction, the insider directly owned 22,345 shares in the company, valued at $51,170.05. This trade represents a 44.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 27,041 shares of company stock worth $62,140 in the last quarter. 55.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD bought a new position in shares of Stardust Power in the fourth quarter worth approximately $69,000. State Street Corp bought a new position in shares of Stardust Power in the fourth quarter worth approximately $44,000. Finally, Geode Capital Management LLC grew its holdings in shares of Stardust Power by 40.3% in the fourth quarter. Geode Capital Management LLC now owns 59,143 shares of the company’s stock worth $181,000 after purchasing an additional 16,989 shares during the last quarter. Institutional investors own 32.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Stardust Power in a report on Tuesday, April 21st. Wall Street Zen raised shares of Stardust Power from a “strong sell” rating to a “sell” rating in a report on Saturday, April 18th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce”.

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About Stardust Power

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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.

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