Stardust Power Inc. (NASDAQ:SDST) Sees Large Decline in Short Interest

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

Stardust Power Stock Up 0.9%

Shares of NASDAQ SDST traded up $0.03 during midday trading on Wednesday, hitting $3.36. The stock had a trading volume of 11,115 shares, compared to its average volume of 477,922. The stock has a 50 day simple moving average of $3.67 and a 200-day simple moving average of $3.75. The company has a market capitalization of $33.00 million, a PE ratio of -0.85 and a beta of 0.29. Stardust Power has a 1 year low of $1.42 and a 1 year high of $8.43.

Institutional Investors Weigh In On Stardust Power

A number of large investors have recently modified their holdings of SDST. Warberg Asset Management LLC acquired a new stake in shares of Stardust Power in the second quarter valued at about $35,000. Geode Capital Management LLC lifted its stake in Stardust Power by 40.3% in the 4th 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 in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of Stardust Power during the 4th quarter worth approximately $69,000. Finally, State Street Corp acquired a new position in shares of Stardust Power during the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 32.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Stardust Power in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Stardust Power presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

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.