Neostellar Capital (NASDAQ:NSLR) Receives Consensus Recommendation of “Buy” from Brokerages

Neostellar Capital (NASDAQ:NSLR) has been assigned a consensus rating of “Buy” from the six brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $14.50.

A number of brokerages recently commented on NSLR. Weiss Ratings lowered Neostellar Capital from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, September 18th. Barrington Research set a $16.00 target price on Neostellar Capital in a research note on Thursday, August 6th. Wall Street Zen cut shares of Neostellar Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, BTIG Research reiterated a “buy” rating and issued a $15.00 price objective on shares of Neostellar Capital in a report on Monday, September 14th.

Neostellar Capital Price Performance

Shares of NSLR stock opened at $8.12 on Friday. The business has a fifty day moving average price of $9.83. The company has a market capitalization of $214.94 million, a PE ratio of 2.02 and a beta of 1.40. Neostellar Capital has a one year low of $7.60 and a one year 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.

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

Insiders Place Their Bets

In related news, CEO Mark Klein purchased 26,040 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average price of $9.60 per share, for a total transaction of $249,984.00. Following the purchase, the chief executive officer owned 1,758,796 shares in the company, valued at approximately $16,884,441.60. This represents a 1.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronald M. Lott sold 5,085 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $9.96, for a total value of $50,646.60. Following the transaction, the director owned 16,432 shares in the company, valued at approximately $163,662.72. This trade represents a 23.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders purchased a total of 81,040 shares of company stock valued at $800,534 over the last ninety days. 8.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neostellar Capital

A number of institutional investors have recently modified their holdings of NSLR. Gabelli Funds LLC grew its stake in shares of Neostellar Capital by 3.3% during the first quarter. Gabelli Funds LLC now owns 1,304,102 shares of the company’s stock worth $13,967,000 after buying an additional 41,894 shares during the last quarter. GatePass Capital LLC grew its holdings in shares of Neostellar Capital by 2.5% during the fourth quarter. GatePass Capital LLC now owns 508,400 shares of the company’s stock worth $4,799,000 after purchasing an additional 12,300 shares during the last quarter. Private Advisor Group LLC boosted its position in 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 buying an additional 23,446 shares during the period. Hillsdale Investment Management Inc. grew its holdings in Neostellar Capital by 5.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 37,400 shares of the company’s stock worth $353,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Tactive Advisors LLC raised its stake in shares of Neostellar Capital by 66.5% during the second quarter. Tactive Advisors LLC now owns 30,311 shares of the company’s stock valued at $380,000 after acquiring an additional 12,111 shares during the last quarter. Institutional investors and hedge funds own 12.95% of the company’s stock.

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.