Stardust Power Inc. (NASDAQ:SDST) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Stardust Power Inc. (NASDAQ:SDST) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $28.1667.

SDST has been the subject of several research analyst reports. Wall Street Zen cut Stardust Power to a “strong sell” rating in a research note on Saturday, September 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Stardust Power in a report on Wednesday, October 8th.

Stardust Power Price Performance

Shares of SDST opened at $3.27 on Tuesday. The company’s fifty day moving average price is $4.03 and its 200-day moving average price is $3.73. Stardust Power has a 1-year low of $1.42 and a 1-year high of $55.00. The firm has a market capitalization of $32.11 million, a PE ratio of -0.83 and a beta of 0.25.

Stardust Power (NASDAQ:SDST) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.23). As a group, research analysts anticipate that Stardust Power will post -0.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Stardust Power

Hedge funds have recently added to or reduced their stakes in the business. Warberg Asset Management LLC acquired a new position in shares of Stardust Power in the 2nd quarter valued at about $35,000. Landscape Capital Management L.L.C. purchased a new stake in Stardust Power during the first quarter worth $160,000. Finally, Armistice Capital LLC purchased a new stake in Stardust Power during the first quarter worth $2,134,000. 32.79% of the stock is owned by hedge funds and other 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.