Neostellar Capital (NASDAQ:NSLR) Stock Short Interest Declines 35.6%

Neostellar Capital (NASDAQ:NSLR) saw a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 467,795 shares, a decrease of 35.6% from the August 31st total of 725,929 shares. Based on an average daily volume of 623,772 shares, the days-to-cover ratio is currently 0.7 days. Approximately 1.9% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. BTIG Research reaffirmed a “buy” rating and set a $15.00 target price on shares of Neostellar Capital in a report on Monday, September 14th. Weiss Ratings lowered shares of Neostellar Capital from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, September 18th. Wall Street Zen cut Neostellar Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Barrington Research set a $16.00 price target on Neostellar Capital in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $14.50.

Neostellar Capital Trading Down 0.9%

Shares of Neostellar Capital stock opened at $7.69 on Thursday. Neostellar Capital has a twelve month low of $7.60 and a twelve month high of $14.98. The company has a 50-day moving average of $9.60. The company has a debt-to-equity ratio of 0.17, a current ratio of 6.76 and a quick ratio of 6.76. The stock has a market cap of $203.55 million, a price-to-earnings ratio of 1.91 and a beta of 1.40.

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

Insiders Place Their Bets

In related news, Director Ronald 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, Director Erik A. Falk purchased 50,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was bought at an average cost of $10.22 per share, with a total value of $511,000.00. Following the completion of the acquisition, the director directly owned 50,000 shares of the company’s stock, valued at $511,000. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 81,040 shares of company stock valued at $800,534. Company insiders own 8.32% of the company’s stock.

Institutional Trading of Neostellar Capital

Several large investors have recently bought and sold shares of NSLR. Gabelli Funds LLC raised its holdings in Neostellar Capital by 3.3% in the 1st quarter. Gabelli Funds LLC now owns 1,304,102 shares of the company’s stock valued at $13,967,000 after acquiring an additional 41,894 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Neostellar Capital by 51.4% in the first quarter. Private Advisor Group LLC now owns 69,034 shares of the company’s stock valued at $739,000 after purchasing an additional 23,446 shares in the last quarter. Tactive Advisors LLC grew its position in shares of Neostellar Capital by 66.5% in the second quarter. Tactive Advisors LLC now owns 30,311 shares of the company’s stock valued at $380,000 after purchasing an additional 12,111 shares in the last quarter. Finally, Ritholtz Wealth Management increased its holdings in shares of Neostellar Capital by 13.4% in the first quarter. Ritholtz Wealth Management now owns 24,264 shares of the company’s stock valued at $260,000 after purchasing an additional 2,862 shares during the last quarter. Hedge funds and other institutional investors 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.