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

BTIG Research reissued their buy rating on shares of Neostellar Capital (NASDAQ:NSLR) in a report published on Monday morning,Benzinga reports. BTIG Research currently has a $15.00 price objective on the stock.

Several other analysts have also recently commented on the company. Wall Street Zen cut Neostellar Capital from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings lowered shares of Neostellar Capital from a “buy (b)” rating to a “hold (c)” rating in a report on Friday, August 14th. Finally, Barrington Research set a $16.00 target price on shares of Neostellar Capital in a research 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $14.50.

Neostellar Capital Stock Down 18.2%

NASDAQ:NSLR opened at $7.86 on Monday. Neostellar Capital has a 52-week low of $7.60 and a 52-week high of $14.98. The company has a quick ratio of 6.76, a current ratio of 6.76 and a debt-to-equity ratio of 0.17. The stock’s fifty day moving average price is $10.27. The firm has a market cap of $208.05 million, a P/E ratio of 1.95 and a beta of 1.40.

Neostellar Capital (NASDAQ:NSLR) last announced its earnings results on Wednesday, August 5th. The company reported ($0.90) 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%.

Insider Buying and Selling at Neostellar Capital

In other news, Director Ronald Lott sold 5,085 shares of the business’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 completion of the sale, the director owned 16,432 shares in the company, valued at approximately $163,662.72. The trade was a 23.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Klein bought 26,040 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were purchased at an average price of $9.60 per share, with a total value of $249,984.00. Following the acquisition, the chief executive officer directly owned 1,758,796 shares in the company, valued at approximately $16,884,441.60. This trade 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 company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Gabelli Funds LLC raised its stake in shares of 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 period. GatePass Capital LLC boosted its position in Neostellar Capital by 2.5% during the 4th 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 period. 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 purchasing an additional 23,446 shares during the period. Tactive Advisors LLC increased its holdings in Neostellar Capital by 66.5% in the 2nd 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, Hillsdale Investment Management Inc. raised its position in Neostellar Capital by 5.6% in the fourth quarter. Hillsdale Investment Management Inc. now owns 37,400 shares of the company’s stock valued at $353,000 after purchasing an additional 2,000 shares during the period. Hedge funds and other institutional investors own 12.95% of the company’s stock.

Neostellar Capital Company Profile

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.