Stardust Power (NASDAQ:SDST) Stock Price Down 14.6% – Time to Sell?

Stardust Power Inc. (NASDAQ:SDST)’s stock price was down 14.6% on Tuesday . The stock traded as low as $0.76 and last traded at $0.88. Approximately 4,405,537 shares traded hands during trading, an increase of 202% from the average daily volume of 1,457,329 shares. The stock had previously closed at $1.03.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Roth Mkm reiterated a “buy” rating and set a $13.00 price target on shares of Stardust Power in a research report on Wednesday, December 18th. B. Riley began coverage on shares of Stardust Power in a report on Tuesday, October 29th. They set a “buy” rating and a $12.00 target price for the company. Finally, Roth Capital raised Stardust Power to a “strong-buy” rating in a research note on Wednesday, November 20th.

Stardust Power Price Performance

The business’s 50-day moving average is $3.91 and its two-hundred day moving average is $7.41.

Institutional Investors Weigh In On Stardust Power

A hedge fund recently bought a new stake in Stardust Power stock. Geode Capital Management LLC acquired a new stake in Stardust Power Inc. (NASDAQ:SDST) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 108,459 shares of the company’s stock, valued at approximately $883,000. Geode Capital Management LLC owned approximately 0.23% of Stardust Power as of its most recent SEC filing. Institutional investors and hedge funds own 32.79% of the company’s stock.

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.