Star Equity (NASDAQ:STRR) Shares Cross Above 50 Day Moving Average – What’s Next?

Star Equity Holdings, Inc. (NASDAQ:STRR) passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $9.88 and traded as high as $10.36. Star Equity shares last traded at $10.00, with a volume of 21,598 shares trading hands.

Recent Star Equity Headlines

Here are a few of the latest headlines about STRR:

• Positive Sentiment: Star says it is pursuing more than $9 million in real-estate monetization and is targeting $20 million in quarterly Building Solutions revenue. These goals could provide cash and signal growth potential if achieved. Article: Star Equity outlines real estate monetization and revenue targets
• Neutral Sentiment: Third-quarter revenue was $53.92 million, ahead of the $53.57 million estimate cited by MarketBeat. Star also reported recently completed bolt-on acquisitions, though their contribution to future results remains to be seen. Article: Star Equity reports third-quarter results
• Negative Sentiment: STRR lost $0.26 per share, compared with a $0.02 profit a year earlier. That missed the $0.15 loss estimate cited by Zacks, although another report compared results with a $0.27 loss estimate and described a slight beat—showing that consensus estimates differ. The ongoing loss may weigh on investor sentiment. Article: Star Equity reports a third-quarter loss

Wall Street Analysts Forecast Growth

A number of brokerages have commented on STRR. Weiss Ratings upgraded shares of Star Equity from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 28th. Zacks Research cut shares of Star Equity from a “hold” rating to a “strong sell” rating in a report on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $28.00.

Star Equity Trading Up 12.0%

The stock has a market capitalization of $36.90 million, a PE ratio of -3.23 and a beta of 0.48. The firm has a 50 day moving average price of $9.88 and a 200 day moving average price of $10.24. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.09.

Star Equity (NASDAQ:STRR) last posted its earnings results on Wednesday, November 11th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.01. The company had revenue of $53.92 million for the quarter, compared to analyst estimates of $53.57 million. Star Equity had a negative return on equity of 5.98% and a negative net margin of 4.14%. Equities analysts expect that Star Equity Holdings, Inc. will post -1.50 EPS for the current fiscal year.

Hedge Funds Weigh In On Star Equity

A hedge fund recently raised its stake in Star Equity stock. Renaissance Technologies LLC grew its position in shares of Star Equity Holdings, Inc. (NASDAQ:STRR) by 2.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,926 shares of the company’s stock after acquiring an additional 2,200 shares during the quarter. Renaissance Technologies LLC owned 2.19% of Star Equity worth $832,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 3.84% of the company’s stock.

About Star Equity

Star Equity Holdings, Inc. is a diversified holding company headquartered in the United States. Formerly known as Digirad Corporation, the company adopted the Star Equity Holdings name as it expanded beyond its original healthcare operations. Through its Building Solutions segment, Star Equity provides structural wall panels, engineered wood products and related construction services for residential and commercial projects. Its operations support builders and developers with off-site and prefabricated construction products designed for use in a range of building applications.