Short Interest in Stardust Power Inc. (NASDAQ:SDST) Decreases By 20.4%

Stardust Power Inc. (NASDAQ:SDST) saw a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 426,467 shares, a decline of 20.4% from the January 29th total of 535,764 shares. Approximately 9.7% of the shares of the company are sold short. Based on an average trading volume of 76,283 shares, the days-to-cover ratio is currently 5.6 days. Based on an average trading volume of 76,283 shares, the days-to-cover ratio is currently 5.6 days. Approximately 9.7% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed 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 given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Stardust Power Stock Down 1.7%

SDST stock opened at $3.43 on Monday. The company’s 50-day moving average price is $3.67 and its two-hundred day moving average price is $3.75. The firm has a market cap of $33.68 million, a P/E ratio of -0.87 and a beta of 0.29. Stardust Power has a 12 month low of $1.42 and a 12 month high of $8.43.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SDST. Warberg Asset Management LLC bought a new stake in shares of Stardust Power during the second quarter worth about $35,000. State Street Corp bought a new position in Stardust Power in the 4th quarter valued at approximately $44,000. Price T Rowe Associates Inc. MD acquired a new stake in Stardust Power during the 4th quarter worth approximately $69,000. Finally, Geode Capital Management LLC grew its holdings in Stardust Power by 40.3% during the 4th quarter. Geode Capital Management LLC now owns 59,143 shares of the company’s stock worth $181,000 after acquiring an additional 16,989 shares during the last quarter. 32.79% of the stock is currently owned by institutional investors and hedge funds.

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.