Star Equity (NASDAQ:STRR) Shares Cross Above 50 Day Moving Average – What’s Next?

Star Equity Holdings, Inc. (NASDAQ:STRR)’s stock price passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $9.88 and traded as high as $10.36. Star Equity shares last traded at $10.00, with a volume of 21,598 shares trading hands.

Key Star Equity News

These are some of the STRR news items that stood out recently:

• Positive Sentiment: Star says it is pursuing more than $9 million in real-estate monetization and is targeting $20 million in quarterly Building Solutions revenue. These goals could provide cash and signal growth potential if achieved. Article: Star Equity outlines real estate monetization and revenue targets
• Neutral Sentiment: Third-quarter revenue was $53.92 million, ahead of the $53.57 million estimate cited by MarketBeat. Star also reported recently completed bolt-on acquisitions, though their contribution to future results remains to be seen. Article: Star Equity reports third-quarter results
• Negative Sentiment: STRR lost $0.26 per share, compared with a $0.02 profit a year earlier. That missed the $0.15 loss estimate cited by Zacks, although another report compared results with a $0.27 loss estimate and described a slight beat—showing that consensus estimates differ. The ongoing loss may weigh on investor sentiment. Article: Star Equity reports a third-quarter loss

Wall Street Analyst Weigh In

STRR has been the subject of a number of analyst reports. Zacks Research downgraded shares of Star Equity from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. Weiss Ratings raised shares of Star Equity from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $28.00.

Star Equity Stock Up 12.0%

The firm’s fifty day moving average price is $9.88 and its two-hundred day moving average price is $10.24. The stock has a market cap of $36.90 million, a price-to-earnings ratio of -3.23 and a beta of 0.48. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.96 and a quick ratio of 1.73.

Star Equity (NASDAQ:STRR) last released its quarterly earnings data on Wednesday, November 11th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. The company had revenue of $53.92 million for the quarter, compared to analysts’ expectations of $53.57 million. Star Equity had a negative net margin of 4.14% and a negative return on equity of 5.98%. Sell-side analysts forecast that Star Equity Holdings, Inc. will post -1.50 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Star Equity stock. Renaissance Technologies LLC raised its position in Star Equity Holdings, Inc. (NASDAQ:STRR) by 2.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 80,926 shares of the company’s stock after acquiring an additional 2,200 shares during the period. Renaissance Technologies LLC owned approximately 2.19% of Star Equity worth $832,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 3.84% of the company’s stock.

Star Equity Company Profile

Star Equity Holdings, Inc. is a diversified holding company headquartered in the United States. Formerly known as Digirad Corporation, the company adopted the Star Equity Holdings name as it expanded beyond its original healthcare operations. Through its Building Solutions segment, Star Equity provides structural wall panels, engineered wood products and related construction services for residential and commercial projects. Its operations support builders and developers with off-site and prefabricated construction products designed for use in a range of building applications.