Neostellar Capital (NASDAQ:NSLR – Get Free Report) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 467,795 shares, a drop of 35.6% from the August 31st total of 725,929 shares. Based on an average daily volume of 623,772 shares, the short-interest ratio is presently 0.7 days. Currently, 1.9% of the company’s shares are short sold.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Barrington Research set a $16.00 price objective on shares of Neostellar Capital in a research note on Thursday, August 6th. Weiss Ratings lowered Neostellar Capital from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 18th. Wall Street Zen lowered Neostellar Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, BTIG Research reaffirmed a “buy” rating and set a $15.00 price objective on shares of Neostellar Capital in a research report on Monday, September 14th. One research 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. According to MarketBeat, Neostellar Capital currently has an average rating of “Buy” and an average target price of $14.50.
Get Our Latest Stock Analysis on Neostellar Capital
Neostellar Capital Price Performance
Neostellar Capital (NASDAQ:NSLR – Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.90) EPS for the quarter. The company had revenue of $0.30 million during the quarter. Neostellar Capital had a negative return on equity of 12.63% and a net margin of 6,053.56%.
Insider Transactions at Neostellar Capital
In related news, Director Erik A. Falk acquired 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was bought at an average price of $10.22 per share, for a total transaction of $511,000.00. Following the acquisition, the director directly owned 50,000 shares of the company’s stock, valued at $511,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Klein purchased 5,000 shares of the stock in a transaction that occurred on Monday, September 21st. The stock was purchased at an average price of $7.91 per share, with a total value of $39,550.00. Following the acquisition, the chief executive officer directly owned 1,763,796 shares of the company’s stock, valued at $13,951,626.36. This trade represents a 0.28% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 81,040 shares of company stock worth $800,534. 8.32% of the stock is currently owned by insiders.
Institutional Trading of Neostellar Capital
Several large investors have recently added to or reduced their stakes in NSLR. Gabelli Funds LLC increased its holdings in shares of 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 purchasing an additional 41,894 shares during the period. Private Advisor Group LLC boosted its position in Neostellar Capital by 51.4% in the first quarter. Private Advisor Group LLC now owns 69,034 shares of the company’s stock valued at $739,000 after buying an additional 23,446 shares during the last quarter. Tactive Advisors LLC boosted its position in Neostellar Capital by 66.5% in the second quarter. Tactive Advisors LLC now owns 30,311 shares of the company’s stock valued at $380,000 after buying an additional 12,111 shares during the last quarter. Finally, Ritholtz Wealth Management increased its holdings in Neostellar Capital by 13.4% in the 1st quarter. Ritholtz Wealth Management now owns 24,264 shares of the company’s stock worth $260,000 after buying an additional 2,862 shares during the period. Hedge funds and other institutional investors own 12.95% of the company’s stock.
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.
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