Star Equity (NASDAQ:STRR) Cut to “Hold” at Maxim Group

Star Equity (NASDAQ:STRR) was downgraded by research analysts at Maxim Group from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday, Marketbeat.com reports.

Star Equity Trading Down 1.4%

Shares of STRR stock traded down $0.03 during trading hours on Thursday, hitting $2.16. 3,879 shares of the company were exchanged, compared to its average volume of 21,215. The company has a 50 day simple moving average of $2.03 and a two-hundred day simple moving average of $2.13. The firm has a market cap of $6.98 million, a P/E ratio of -2.12 and a beta of 0.94. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.88 and a current ratio of 1.42. Star Equity has a fifty-two week low of $1.72 and a fifty-two week high of $4.74.

Star Equity (NASDAQ:STRR) last released its quarterly earnings data on Wednesday, August 13th. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of ($0.26) by $2.12. Star Equity had a negative net margin of 3.19% and a positive return on equity of 12.98%. The company had revenue of $23.71 million during the quarter, compared to analyst estimates of $16.75 million. Equities analysts anticipate that Star Equity will post -1.2 EPS for the current year.

Institutional Investors 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 37.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,460 shares of the company’s stock after acquiring an additional 4,718 shares during the quarter. Renaissance Technologies LLC owned about 0.54% of Star Equity worth $39,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 3.84% of the company’s stock.

About Star Equity

Star Equity Holdings, Inc engages in the construction business in the United States and internationally. It operates through two segments: Construction, and Investments. It manufactures modular housing units, structural wall panels, permanent wood foundation systems, and other engineered wood products; supplies general contractors with building materials; holds real estate assets; and manages investments.