Neostellar Capital (NASDAQ:NSLR) Shares Shorted: Short Interest Down 35.6% in September

Neostellar Capital (NASDAQ:NSLR) was the target of a large 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 days-to-cover ratio is currently 0.7 days. Currently, 1.9% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several analysts recently commented on NSLR shares. Barrington Research set a $16.00 price target on shares of Neostellar Capital in a report on Thursday, August 6th. BTIG Research reiterated a “buy” rating and issued a $15.00 target price on shares of Neostellar Capital in a research report on Monday, September 14th. Wall Street Zen lowered shares of Neostellar Capital from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings downgraded shares of Neostellar Capital from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Neostellar Capital has an average rating of “Buy” and an average target price of $14.50.

Neostellar Capital Price Performance

NSLR traded up $0.03 during midday trading on Friday, hitting $7.50. 37,821 shares of the company’s stock traded hands, compared to its average volume of 301,333. The company has a current ratio of 6.76, a quick ratio of 6.76 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $198.45 million, a P/E ratio of 1.86 and a beta of 1.47. The company’s fifty day moving average price is $9.55. Neostellar Capital has a one year low of $7.04 and a one year high of $14.98.

Neostellar Capital (NASDAQ:NSLR) last posted its earnings results on Wednesday, August 5th. The company reported ($0.90) 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.

Insiders Place Their Bets

In related news, Director Ronald Lott sold 5,085 shares of the stock in a transaction dated 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 sale, the director directly owned 16,432 shares of the company’s stock, valued at approximately $163,662.72. This represents a 23.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Erik A. Falk acquired 50,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were 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 in the company, valued at approximately $511,000. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 81,040 shares of company stock worth $800,534 over the last ninety days. 8.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neostellar Capital

Several hedge funds have recently bought and sold shares of NSLR. Ritholtz Wealth Management lifted its position in shares of Neostellar Capital by 13.4% in the first 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 last quarter. Tactive Advisors LLC increased its holdings 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 valued at $380,000 after acquiring an additional 12,111 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Neostellar Capital by 51.4% in the 1st 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. Finally, Gabelli Funds LLC raised its stake in shares of 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 acquiring an additional 41,894 shares in the last quarter. 12.95% of the stock is 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.