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Stardust Power (SDST) AI Stock Analysis

267 Followers
SDST

Stardust Power

(Other OTC:SDST)

Select Model
Rating:38.7Underperform
Price Target:$0.01â–²(100.00% Upside)
Action:reiterated
Date:11/14/26

SDST scores low primarily due to very weak financial performance (pre-revenue, large recurring losses, negative equity, and ongoing cash burn). Additional downside pressure comes from negative corporate events including Nasdaq suspension/delisting and dilution/default-risk financing actions. Valuation provides little support given losses (negative P/E) and no dividend, while technical signals are limited by missing indicator data and elevated volatility.

Positive Factors
Domestic lithium supply-chain strategyA domestic refinery focused on battery-grade lithium gives Stardust Power exposure to the strategic buildout of U.S. battery materials capacity. If execution succeeds, the planned business could serve growing EV and energy-storage manufacturing demand while supporting a more localized supply chain.
Negative Factors
Pre-revenue operating modelStardust Power has not demonstrated commercial revenue from its planned lithium business, yet it continues to incur substantial losses. The absence of a revenue base makes future margins and profitability unproven, increasing execution risk as the company develops its refinery plans.

Stardust Power (SDST) vs. SPDR S&P 500 ETF (SPY)

-100%-75%-50%-25%0%25%50%SDST-99.66%SPY+14.55%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
$328.67K
Dividend Yield
―
Average Volume (3M)
95.91M
Price to Earnings (P/E)
-0.0
Beta (1Y)
2.08
Revenue Growth
―
EPS Growth
63.30%
Country
US
Employees
10
Sector
Industrials
Sector Strength
63
Industry
Chemicals - Specialty

Stardust Power Business Overview & Revenue Model

Company Description

Stardust Power Inc. develops battery grade lithium products in the United States. The company is developing a lithium refinery in Muskogee, Oklahoma for producing battery-grade lithium carbonate. The company was founded in 2022 and is headquartered i...

Stardust Power Financial Statement Overview

Summary

Financials reflect a very weak, pre-revenue profile: revenue is $0, losses remain large (TTM net loss ~-$15.7M), shareholders’ equity is negative, and cash burn persists (TTM operating cash flow ~-$8.0M; free cash flow ~-$4.5M). Low reported debt versus assets is a modest positive, but negative equity and ongoing burn imply elevated funding and execution risk.

Income Statement

12Very Negative

Balance Sheet

18Very Negative

Cash Flow

16Very Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue000000
Gross Profit-1,841-3,166-1,823-600
EBITDA-12.52M-15.20M-16.12M-3.79M15.07M4.70M
Net Income-15.66M-15.72M-23.75M-3.79M15.07M4.71M
Balance Sheet
Total Assets13.41M11.78M9.02M3.02M304.78M301.10M
Cash, Cash Equivalents and Short-Term Investments4.56M3.48M912.57K1.27M101.00K842.00K
Total Debt370.80K3.40M10.01M5.29M785.00K0
Total Liabilities15.38M17.59M28.41M6.76M14.84M26.23M
Stockholders Equity-1.98M-5.81M-19.39M-3.73M289.94M274.87M
Cash Flow
Free Cash Flow-4.46M-8.30M-12.37M-3.09M-1.53M-1.04M
Operating Cash Flow-8.01M-8.28M-9.72M-2.98M-1.53M-1.04M
Investing Cash Flow-709.43K-3.40M-4.79M-301.97K0-300.00M
Financing Cash Flow11.70M14.24M14.15M4.56M785.00K301.87M

Stardust Power Risk Analysis

Stardust Power disclosed 69 risk factors in its most recent earnings report. Stardust Power reported the most risks in the "Finance & Corporate" category.

Higher RiskSector Avg.Lower RiskFinance & CorporateTech & InnovationLegal & RegulatoryProductionAbility to SellMacro & Political
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added

3 New Risks
1.Our failure to regain compliance with the Nasdaq continued listing requirements could result in the delisting of our Common Stock and Public Warrants, which could have a material adverse effect on our business and the value of your investment, and would trigger an event of default under our 2025 Convertible Note.Q2, 2026
2.We are subject to default and acceleration risk under our senior secured 2025 Convertible Note.Q2, 2026
3.It is not possible to predict the actual number of shares we will sell under the Purchase Agreement to B. Riley Principal Capital II, or the actual gross proceeds resulting from those sales.Q3, 2024

Stardust Power Peers Comparison

Overall Rating

UnderperformOutperform
Sector (63)

Financial Indicators

SDST against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *63Neutral$10.79B15.437.44%2.01%2.89%-14.66%
OESXOESX45Neutral$53.03M-199.38-1.16%―17.89%96.99%
POLAPOLA42Neutral$1.17M-0.08-618.35%―-61.39%-93.53%
STISTI41Neutral$35.11M-0.31-641.37%―1787.48%-210.66%
DFLIDFLI40Underperform$3.35M-0.01-720.71%―-16.76%46.77%
SDSTSDST39Underperform$1.11M-0.01262.12%――63.30%

* Industrials Sector Average

Performance Comparison

-100%0%100%200%SDSTOESXPOLADFLISTIDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
SDST and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
SDSTStardust Power Inc.0.01-3.23-99.63%
OESXOrion Energy12.92-2.45-15.94%
POLAPolar Power0.27-2.64-90.72%
DFLIDragonfly Energy Holdings Corp1.79-62.21-97.20%
STISolidion Technology, Inc.3.73-6.41-63.21%

Stardust Power Corporate Events

Business Operations and StrategyExecutive/Board ChangesDelistings and Listing Changes

Stardust Power Faces Nasdaq Delisting and Trading Suspension

Negative
Oct 19, 2026

On April 24, 2026, Stardust Power was notified by Nasdaq that it no longer met the $35 million market value requirement, and on September 11, 2026 it was informed that its shares had fallen below the $1.00 minimum bid price for 30 consecutive busines...

Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance

Stardust Power Expands At-the-Market Equity Issuance Capacity

Neutral
Sep 22, 2026

On September 22, 2026, Stardust Power Inc. amended its prospectus supplement to increase the maximum amount of common stock it may issue under an existing at-the-market issuance sales agreement with B. Riley Securities Inc. by up to an additional $6,...

Private Placements and FinancingRegulatory Filings and Compliance

Stardust Power Expands ATM Equity Offering Capacity

Neutral
Sep 18, 2026

On September 17, 2026, Stardust Power Inc. amended its existing prospectus supplement to increase the maximum number of common shares available under its at-the-market issuance sales agreement with B. Riley Securities Inc. The update authorizes the c...

Delistings and Listing ChangesRegulatory Filings and Compliance

Stardust Power Receives Nasdaq Minimum Bid Price Notice

Negative
Sep 17, 2026

On September 11, 2026, Stardust Power Inc. disclosed it had received a Nasdaq notice that its common stock failed to meet the $1.00 minimum bid price requirement for the prior 30 consecutive business days, from July 30, 2026 through September 10, 202...

Financial DisclosuresPrivate Placements and FinancingRegulatory Filings and Compliance

Stardust Power Converts Note Amid Ongoing Default Risks

Negative
Aug 21, 2026

On December 23, 2025, Stardust Power Inc. issued a $4.8 million senior secured convertible promissory note to Lind Global Asset Management XIII LLC, with terms that triggered a default when the company’s market capitalization fell below $15 million f...

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 14, 2026