Neostellar Capital (NASDAQ:NSLR) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Neostellar Capital has a consensus “Buy” rating from six analysts, with four buys, one strong buy, and one hold. The average 12-month price target is $14.50, substantially above the reported $8.20 share price.
• Insider activity was mixed: Director Erik A. Falk bought 50,000 shares for approximately $511,000, while Director Ronald Lott sold 5,085 shares. Institutional investors own 12.95% of the company and several funds recently increased their positions.
• The SPAC reported a quarterly loss of $0.90 per share on $0.30 million in revenue. Shares have traded between $7.60 and $14.98 over the past year, while the company continues to focus on identifying and completing a business combination.

Shares of Neostellar Capital (NASDAQ:NSLR - Get Free Report) have earned a consensus rating of "Buy" from the six research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $14.50.

A number of equities research analysts have weighed in on NSLR shares. Barrington Research set a $16.00 price objective on Neostellar Capital in a report on Thursday, August 6th. Wall Street Zen cut Neostellar Capital from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Weiss Ratings downgraded Neostellar Capital from a "buy (b)" rating to a "hold (c)" rating in a research note on Friday, August 14th. Finally, BTIG Research restated a "buy" rating and issued a $15.00 price target on shares of Neostellar Capital in a research note on Monday.

Insider Buying and Selling at Neostellar Capital

In related news, Director Erik A. Falk purchased 50,000 shares of the business's stock in a transaction dated Wednesday, August 26th. The stock was acquired 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 trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald Lott sold 5,085 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $9.96, for a total transaction of $50,646.60. Following the completion of the transaction, the director owned 16,432 shares of the company's stock, valued at $163,662.72. This represents a 23.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 8.32% of the stock is owned by corporate insiders.

Institutional Trading of Neostellar Capital

Institutional investors have recently added to or reduced their stakes in the stock. Gabelli Funds LLC increased its holdings 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 in the last quarter. GatePass Capital LLC lifted its position in shares of Neostellar Capital by 2.5% during the 4th quarter. GatePass Capital LLC now owns 508,400 shares of the company's stock valued at $4,799,000 after acquiring an additional 12,300 shares during the period. Private Advisor Group LLC boosted its stake in shares of Neostellar Capital by 51.4% during the 1st quarter. Private Advisor Group LLC now owns 69,034 shares of the company's stock worth $739,000 after acquiring an additional 23,446 shares in the last quarter. Tactive Advisors LLC boosted its stake in shares of Neostellar Capital by 66.5% during the 2nd quarter. Tactive Advisors LLC now owns 30,311 shares of the company's stock worth $380,000 after acquiring an additional 12,111 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its holdings in shares of Neostellar Capital by 5.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 37,400 shares of the company's stock worth $353,000 after acquiring an additional 2,000 shares during the period. Hedge funds and other institutional investors own 12.95% of the company's stock.

Neostellar Capital Stock Performance

Shares of Neostellar Capital stock opened at $8.20 on Friday. The stock has a market cap of $217.05 million, a P/E ratio of 2.03 and a beta of 1.40. The company has a debt-to-equity ratio of 0.17, a quick ratio of 6.76 and a current ratio of 6.76. Neostellar Capital has a one year low of $7.60 and a one year high of $14.98. The stock's fifty day moving average price is $10.13.

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 firm 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%.

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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