Neostellar Capital (NASDAQ:NSLR) CEO Mark Klein Acquires 5,000 Shares of Stock

Key Points

• CEO Mark Klein bought 5,000 NSLR shares at an average price of $7.91, investing $39,550 and increasing his direct ownership to 1,763,796 shares.
• Neostellar Capital shares rose 4.1% to $8.31, while the company reported a quarterly loss of $0.90 per share on just $0.30 million in revenue.
• Analyst sentiment remains generally positive, with an average “Buy” rating and a $14.50 consensus price target, although some firms recently downgraded the stock.

Neostellar Capital (NASDAQ:NSLR - Get Free Report) CEO Mark Klein purchased 5,000 shares of the business's stock in a transaction on Monday, September 21st. The stock was acquired at an average price of $7.91 per share, with a total value of $39,550.00. Following the completion of the acquisition, the chief executive officer directly owned 1,763,796 shares in the company, valued at $13,951,626.36. The trade was a 0.28% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Neostellar Capital Stock Up 4.1%

Shares of NASDAQ:NSLR traded up $0.33 during midday trading on Tuesday, reaching $8.31. The company's stock had a trading volume of 469,040 shares, compared to its average volume of 300,310. The firm has a market cap of $219.99 million, a price-to-earnings ratio of 2.07 and a beta of 1.40. The company's 50 day moving average is $10.00. Neostellar Capital has a 1 year low of $7.60 and a 1 year high of $14.98. 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 (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 business had revenue of $0.30 million during the quarter.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wall Street Zen lowered shares of Neostellar Capital from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Barrington Research set a $16.00 price objective on shares of Neostellar Capital in a research note on Thursday, August 6th. BTIG Research restated a "buy" rating and set a $15.00 price objective on shares of Neostellar Capital in a report on Monday, September 14th. Finally, Weiss Ratings lowered Neostellar Capital from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday. 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's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $14.50.

Institutional Trading of Neostellar Capital

Several large investors have recently added to or reduced their stakes in NSLR. Tactive Advisors LLC grew its stake in shares of 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 in the last quarter. Gabelli Funds LLC boosted 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 worth $13,967,000 after acquiring an additional 41,894 shares during the period. Private Advisor Group LLC grew 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 acquiring an additional 23,446 shares in the last quarter. Ritholtz Wealth Management grew its position in Neostellar Capital by 13.4% in 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 in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its stake in shares of Neostellar Capital by 102.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 7,405 shares of the company's stock valued at $68,000 after purchasing an additional 3,750 shares during the period. 12.95% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.