Key Points
- Stardust Power COO Chris Edward Celano sold 25,975 shares on May 19 at an average price of $2.05, totaling about $53,249. The sale reduced his ownership by 20.24% and was made to cover tax withholding tied to vested equity awards.
- The stock has been under pressure despite a recent move higher, opening at $2.34 after a 7.8% gain. It remains well below its 52-week high of $7.67 and trades under both its 50-day and 200-day moving averages.
- Stardust Power recently missed quarterly earnings estimates, reporting a loss of $0.53 per share versus the expected $0.39 loss. Analyst sentiment is bearish, with a consensus rating of Sell.
Stardust Power Inc. (NASDAQ:SDST - Get Free Report) COO Chris Edward Celano sold 25,975 shares of the company's stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $2.05, for a total value of $53,248.75. Following the completion of the transaction, the chief operating officer owned 102,383 shares in the company, valued at $209,885.15. This represents a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Chris Edward Celano also recently made the following trade(s):
- On Friday, March 20th, Chris Edward Celano sold 3,457 shares of Stardust Power stock. The stock was sold at an average price of $2.32, for a total value of $8,020.24.
Stardust Power Stock Up 7.8%
NASDAQ:SDST opened at $2.34 on Friday. Stardust Power Inc. has a 52 week low of $1.42 and a 52 week high of $7.67. The company has a market capitalization of $23.33 million, a P/E ratio of -1.17 and a beta of 0.56. The stock's fifty day moving average is $2.57 and its two-hundred day moving average is $3.25.
Stardust Power (NASDAQ:SDST - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.53) earnings per share for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.14).
Analyst Upgrades and Downgrades
Several research analysts have weighed in on SDST shares. Wall Street Zen lowered shares of Stardust Power from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 16th. Weiss Ratings reissued a "sell (e+)" rating on shares of Stardust Power in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of "Sell".
Get Our Latest Research Report on SDST
Institutional Investors Weigh In On Stardust Power
A number of institutional investors have recently modified their holdings of SDST. State Street Corp purchased a new stake in shares of Stardust Power in the 4th quarter valued at $44,000. Price T Rowe Associates Inc. MD acquired a new position in Stardust Power during the 4th quarter worth about $69,000. Finally, Geode Capital Management LLC boosted 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 valued at $181,000 after acquiring an additional 16,989 shares during the period. 32.79% of the stock is owned by institutional investors and hedge funds.
About Stardust Power
(
Get Free Report)
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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