Stardust Power Inc. (NASDAQ:SDST) Short Interest Update
by Michael Walen · The Markets DailyStardust Power Inc. (NASDAQ:SDST – Get Free Report) saw a significant growth in short interest in January. As of January 30th, there was short interest totaling 535,764 shares, a growth of 73.0% from the January 15th total of 309,730 shares. Approximately 12.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,690,339 shares, the short-interest ratio is presently 0.3 days. Based on an average daily trading volume, of 1,690,339 shares, the short-interest ratio is presently 0.3 days. Approximately 12.2% of the shares of the stock are sold short.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp acquired a new stake in shares of Stardust Power in the fourth quarter worth approximately $44,000. Geode Capital Management LLC raised its stake in Stardust Power by 40.3% during 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 period. Finally, Warberg Asset Management LLC purchased a new position in Stardust Power during the second quarter worth approximately $35,000. Institutional investors and hedge funds own 32.79% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Stardust Power in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.25.
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Stardust Power Price Performance
SDST traded up $0.10 during trading on Friday, hitting $3.42. The company’s stock had a trading volume of 45,899 shares, compared to its average volume of 926,163. Stardust Power has a twelve month low of $1.42 and a twelve month high of $9.30. The stock has a market cap of $33.58 million, a PE ratio of -0.87 and a beta of 0.26. The firm’s 50 day moving average price is $3.67 and its 200-day moving average price is $3.80.
Stardust Power (NASDAQ:SDST – Get Free Report) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.23). Equities analysts anticipate that Stardust Power will post -0.63 earnings per share for the current year.
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.