Neostellar Capital (NASDAQ:NSLR) Stock Price Target Cut by BTIG Research

Key Points

• BTIG Research lowered Neostellar Capital’s price target to $14 from $15 while maintaining a “buy” rating, implying 86.67% upside from the prior close. Analysts overall rate the stock “Buy,” with an average target of $14.25.
• NSLR shares opened at $7.50, near the company’s 12-month low of $7.04 and below its 50-day moving average of $9.39. The company reported a quarterly loss of $0.90 per share on $0.30 million in revenue.
• Insider activity was mixed: one director sold 5,085 shares, while another purchased 50,000 shares; insiders bought a net 81,040 shares worth $800,534 over the past 90 days. Institutional investors own 12.95% of the stock.

Neostellar Capital (NASDAQ:NSLR - Get Free Report) had its price objective dropped by equities researchers at BTIG Research from $15.00 to $14.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's price objective points to a potential upside of 86.67% from the stock's previous close.

NSLR has been the topic of several other research reports. Wall Street Zen cut shares of Neostellar Capital from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Barrington Research set a $16.00 price target on shares of Neostellar Capital in a research note 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 report on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Neostellar Capital presently has an average rating of "Buy" and an average price target of $14.25.

Neostellar Capital Price Performance

Shares of Neostellar Capital stock opened at $7.50 on Wednesday. The firm's 50 day moving average price is $9.39. Neostellar Capital has a 12 month low of $7.04 and a 12 month high of $14.98. The firm has a market capitalization of $198.55 million, a PE ratio of 1.86 and a beta of 1.47. The company has a quick ratio of 6.76, a current ratio of 6.76 and a debt-to-equity ratio of 0.17.

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

Insider Transactions at Neostellar Capital

In related news, Director Ronald Lott sold 5,085 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $9.96, for a total value of $50,646.60. Following the completion of the transaction, the director directly owned 16,432 shares in the company, valued at approximately $163,662.72. This represents a 23.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Erik A. Falk acquired 50,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average price of $10.22 per share, with a total value of $511,000.00. Following the completion of the transaction, the director directly owned 50,000 shares of the company's stock, valued at $511,000. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 81,040 shares of company stock worth $800,534 in the last 90 days. Insiders own 8.32% of the company's stock.

Hedge Funds Weigh In On Neostellar Capital

Hedge funds have recently modified their holdings of the business. Gabelli Funds LLC raised its holdings in 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 buying an additional 41,894 shares during the period. Private Advisor Group LLC boosted its stake in Neostellar Capital by 51.4% during the first quarter. Private Advisor Group LLC now owns 69,034 shares of the company's stock worth $739,000 after buying an additional 23,446 shares during the period. Tactive Advisors LLC increased its position in shares of 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 acquiring an additional 12,111 shares during the last quarter. Ritholtz Wealth Management increased its position in shares of Neostellar Capital by 13.4% during the first quarter. Ritholtz Wealth Management now owns 24,264 shares of the company's stock valued at $260,000 after acquiring an additional 2,862 shares during the last quarter. Finally, Byrne Asset Management LLC raised its stake in shares of Neostellar Capital by 24.0% in the 3rd quarter. Byrne Asset Management LLC now owns 26,220 shares of the company's stock valued at $196,000 after acquiring an additional 5,070 shares during the period. 12.95% of the stock is currently owned by hedge funds and other institutional investors.

About Neostellar Capital

SuRo Capital Corp. is a business development company. The firm seeks to invest in growing, late stage, venture capital-backed private companies. SuRo Capital Corp. was founded in 2010 and is based in San Francisco, California.

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