Neostellar Capital’s (NSLR) Buy Rating Reaffirmed at BTIG Research

Neostellar Capital (NASDAQ:NSLR)‘s stock had its “buy” rating reiterated by investment analysts at BTIG Research in a note issued to investors on Monday, Benzinga reports. They presently have a $15.00 target price on the stock. BTIG Research’s price target would suggest a potential upside of 90.84% from the company’s current price.

NSLR has been the subject of several other reports. Weiss Ratings lowered Neostellar Capital from a “buy (b)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Barrington Research set a $16.00 target price on Neostellar Capital in a research report on Thursday, August 6th. Finally, Wall Street Zen downgraded Neostellar Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $14.50.

Neostellar Capital Stock Performance

NASDAQ:NSLR opened at $7.86 on Monday. 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 firm has a market capitalization of $208.05 million, a PE ratio of 1.95 and a beta of 1.40. Neostellar Capital has a fifty-two week low of $7.60 and a fifty-two week high of $14.98. The business’s fifty day moving average is $10.27.

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

Insiders Place Their Bets

In other Neostellar Capital news, Director Erik A. Falk purchased 50,000 shares of the stock in a transaction dated Wednesday, August 26th. The stock was acquired at an average cost of $10.22 per share, for a total transaction of $511,000.00. Following the acquisition, the director owned 50,000 shares in the company, valued at $511,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Klein purchased 26,040 shares of the stock in a transaction dated Monday, August 10th. The shares were acquired at an average price of $9.60 per share, with a total value of $249,984.00. Following the completion of the acquisition, the chief executive officer 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 insiders.

Institutional Trading of Neostellar Capital

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Gabelli Funds LLC lifted its position in Neostellar Capital by 3.3% in the first quarter. Gabelli Funds LLC now owns 1,304,102 shares of the company’s stock valued at $13,967,000 after buying an additional 41,894 shares during the last quarter. GatePass Capital LLC boosted its stake in Neostellar Capital by 2.5% during the fourth quarter. GatePass Capital LLC now owns 508,400 shares of the company’s stock worth $4,799,000 after buying an additional 12,300 shares during the period. Private Advisor Group LLC increased its position 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 acquiring an additional 23,446 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in shares of 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 acquiring an additional 2,000 shares during the last quarter. Finally, Tactive Advisors LLC raised its stake in shares of 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 acquiring an additional 12,111 shares during the period. 12.95% of the stock is currently owned by hedge funds and other institutional investors.

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.