Neostellar Capital (NASDAQ:NSLR) Receives Buy Rating from BTIG Research

Neostellar Capital (NASDAQ:NSLR)‘s stock had its “buy” rating reiterated by stock analysts at BTIG Research in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $15.00 price objective on the stock. BTIG Research’s price objective would suggest a potential upside of 90.84% from the company’s previous close.

A number of other equities analysts have also issued reports on the stock. Barrington Research set a $16.00 price target on shares of Neostellar Capital in a research report on Thursday, August 6th. Weiss Ratings downgraded shares of Neostellar Capital from a “buy (b)” rating to a “hold (c)” rating in a report on Friday, August 14th. Finally, Wall Street Zen lowered shares of Neostellar Capital from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Neostellar Capital currently has a consensus rating of “Buy” and an average target price of $14.50.

Neostellar Capital Trading Down 18.2%

Shares of NSLR opened at $7.86 on Monday. The firm’s fifty day simple moving average is $10.27. Neostellar Capital has a 12 month low of $7.60 and a 12 month high of $14.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 6.76 and a current ratio of 6.76. The stock has a market cap of $208.05 million, a price-to-earnings ratio of 1.95 and a beta of 1.40.

Neostellar Capital (NASDAQ:NSLR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.90) earnings per share for the quarter. Neostellar Capital had a net margin of 6,053.56% and a negative return on equity of 12.63%. The firm had revenue of $0.30 million during the quarter.

Insider Buying and Selling

In related news, Director Ronald M. Lott sold 5,085 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $9.96, for a total transaction of $50,646.60. Following the sale, the director directly owned 16,432 shares of the company’s stock, valued at $163,662.72. This trade represents a 23.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Klein purchased 26,040 shares of Neostellar Capital stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average price of $9.60 per share, with a total value of $249,984.00. Following the completion of the transaction, the chief executive officer owned 1,758,796 shares of the company’s stock, valued at $16,884,441.60. This represents a 1.50% increase in their position. The disclosure for this purchase is available in the SEC filing. 8.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Neostellar Capital

Several institutional investors have recently made changes to their positions in the company. Gabelli Funds LLC increased its holdings in Neostellar Capital by 3.3% in the first quarter. Gabelli Funds LLC now owns 1,304,102 shares of the company’s stock valued at $13,967,000 after buying an additional 41,894 shares in the last quarter. Tactive Advisors LLC boosted its stake in shares of Neostellar Capital by 66.5% during the 2nd quarter. Tactive Advisors LLC now owns 30,311 shares of the company’s stock worth $380,000 after acquiring an additional 12,111 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Neostellar Capital by 51.4% during the 1st quarter. Private Advisor Group LLC now owns 69,034 shares of the company’s stock worth $739,000 after acquiring an additional 23,446 shares in the last quarter. Ritholtz Wealth Management grew its position in shares of Neostellar Capital by 13.4% during the 1st quarter. Ritholtz Wealth Management now owns 24,264 shares of the company’s stock valued at $260,000 after acquiring an additional 2,862 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its position in shares of Neostellar Capital by 102.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 7,405 shares of the company’s stock valued at $68,000 after acquiring an additional 3,750 shares during the period. 12.95% of the stock is owned by hedge funds and other institutional investors.

About Neostellar Capital

Neostellar Capital Corp. is a blank check company, also known as a special purpose acquisition company (SPAC). The company was formed to identify and complete a business combination with an operating company or other business, such as through a merger, share exchange, asset acquisition, share purchase, reorganization or similar transaction.

As a SPAC, Neostellar Capital does not have significant ongoing commercial operations, products or services of its own. Its activities are primarily focused on evaluating potential acquisition targets and pursuing an initial business combination.

The company is incorporated as an exempted company in the Cayman Islands and is listed on the Nasdaq under the symbol NSLR.