Neostellar Capital (NASDAQ:NSLR) Receives $14.50 Average Target Price from Brokerages

Shares of Neostellar Capital (NASDAQ:NSLR) have been given an average rating of “Buy” by the six ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $14.50.

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

Neostellar Capital Trading Up 4.0%

Shares of Neostellar Capital stock opened at $8.30 on Friday. The company has a current ratio of 6.76, a quick ratio of 6.76 and a debt-to-equity ratio of 0.17. Neostellar Capital has a 12-month low of $7.60 and a 12-month high of $14.98. The stock has a market cap of $219.70 million, a P/E ratio of 2.06 and a beta of 1.40. The firm’s fifty day moving average is $9.94.

Neostellar Capital (NASDAQ:NSLR) last announced its earnings results 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 company had revenue of $0.30 million for the quarter.

Insider Buying and Selling at Neostellar Capital

In other news, Director Ronald M. Lott sold 5,085 shares of the firm’s stock in a transaction on 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 transaction, the director directly owned 16,432 shares in the company, valued at $163,662.72. This trade represents a 23.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erik A. Falk acquired 50,000 shares of Neostellar Capital stock in a transaction on Wednesday, August 26th. The shares were purchased at an average price of $10.22 per share, with a total value of $511,000.00. Following the completion of the purchase, the director owned 50,000 shares in the company, valued at $511,000. This represents a ? increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders purchased 81,040 shares of company stock worth $800,534. 8.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Neostellar Capital

Several institutional investors have recently modified their holdings of NSLR. Gabelli Funds LLC raised its position in Neostellar Capital by 3.3% in the 1st 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 stake in shares of Neostellar Capital by 2.5% in the fourth quarter. GatePass Capital LLC now owns 508,400 shares of the company’s stock worth $4,799,000 after acquiring an additional 12,300 shares during the period. Private Advisor Group LLC raised its holdings in shares of Neostellar Capital by 51.4% during 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 during the last quarter. Tactive Advisors LLC lifted its position in 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 purchasing an additional 12,111 shares during the period. Finally, Hillsdale Investment Management Inc. lifted its position in Neostellar Capital by 5.6% during 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. 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.