Star Equity (NASDAQ:STRR) Releases Earnings Results, Misses Estimates By $0.30 EPS

Star Equity (NASDAQ:STRR) released its earnings results on Thursday. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.30), Zacks reports. Star Equity had a negative return on equity of 3.81% and a negative net margin of 2.81%.

Star Equity Stock Performance

Shares of Star Equity stock traded up $0.18 during midday trading on Thursday, hitting $10.36. The company had a trading volume of 7,092 shares, compared to its average volume of 11,948. The company has a 50 day moving average of $10.65 and a 200 day moving average of $5.13. The stock has a market capitalization of $28.53 million, a P/E ratio of -7.97 and a beta of 0.42. Star Equity has a 52-week low of $8.26 and a 52-week high of $15.90.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Maxim Group cut Star Equity from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Star Equity in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Star Equity presently has a consensus rating of “Reduce” and a consensus target price of $5.00.

Insider Buying and Selling

In other news, CEO Jeffrey E. Eberwein bought 2,600 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was acquired at an average cost of $11.20 per share, with a total value of $29,120.00. Following the completion of the acquisition, the chief executive officer owned 681,747 shares of the company’s stock, valued at approximately $7,635,566.40. This represents a 0.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have bought 67,113 shares of company stock worth $722,993 and have sold 31,105 shares worth $287,007. Company insiders own 33.51% of the company’s stock.

About Star Equity

Star Equity Holdings, Inc engages in the construction business in the United States and internationally. It operates through two segments: Construction, and Investments. It manufactures modular housing units, structural wall panels, permanent wood foundation systems, and other engineered wood products; supplies general contractors with building materials; holds real estate assets; and manages investments.