Stardust Power (NASDAQ:SDST) Releases Earnings Results, Beats Expectations By $0.04 EPS

by · The Cerbat Gem

Stardust Power (NASDAQ:SDST – Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.04, FiscalAI reports.

Here are the key takeaways from Stardust Power’s conference call:

  • Stardust Power advanced engineering and site-readiness work at its Muskogee refinery, including geotechnical and subsurface investigations; key construction and commissioning permits are already in place.
  • The company was selected as an industrial partner in a U.S. Department of Energy-funded research initiative with Ohio University focused on next-generation lithium extraction and potential domestic feedstock sources.
  • Commercial discussions with prospective feedstock suppliers, offtake customers, government stakeholders, and strategic financing partners remain active, but management announced no material developments and said construction financing remains its highest priority.
  • Stardust Power remains pre-revenue and had only approximately $0.5 million in cash at June 30, down from $3.5 million at year-end; management said additional equity, debt, or other financing will be needed to meet the next 12 months of requirements.
  • The company raised capital through equity facilities, including approximately $1.35 million from its equity line and $161,000 from its ATM during the quarter, while continuing to evaluate alternatives related to Nasdaq minimum market-value requirements, creating potential dilution and listing risk.

Stardust Power Stock Performance

Shares of NASDAQ SDST traded up $0.01 during trading on Thursday, reaching $0.68. The stock had a trading volume of 245,052 shares, compared to its average volume of 465,994. The company has a market cap of $7.19 million, a P/E ratio of -0.34 and a beta of 0.60. Stardust Power has a fifty-two week low of $0.50 and a fifty-two week high of $7.67. The business’s 50-day moving average price is $1.47 and its 200-day moving average price is $2.42.

Insider Buying and Selling

In other Stardust Power news, CEO Roshen Pujari sold 102,427 shares of Stardust Power stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $2.18, for a total value of $223,290.86. Following the completion of the transaction, the chief executive officer directly owned 502,771 shares of the company’s stock, valued at $1,096,040.78. The trade was a 16.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Chris Edward Celano sold 25,975 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $2.05, for a total transaction of $53,248.75. Following the sale, the chief operating officer owned 102,383 shares in the company, valued at $209,885.15. This trade represents a 20.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 169,233 shares of company stock valued at $358,988. Corporate insiders own 34.51% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SDST. Geode Capital Management LLC increased its stake 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 buying an additional 16,989 shares during the period. State Street Corp purchased a new position in Stardust Power in the 4th quarter valued at approximately $44,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in Stardust Power in the 4th quarter valued at approximately $69,000. Hedge funds and other institutional investors own 32.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Stardust Power in a research report on Friday, July 17th. Wall Street Zen lowered shares of Stardust Power from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

View Our Latest Stock Report on SDST

About Stardust Power

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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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