Starry Group Holdings, Inc. (NYSE:STRY – Get Rating)’s stock price dropped 4.9% during trading on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $8.00 to $4.00. The Goldman Sachs Group currently has a neutral rating on the stock. Starry Group traded as low as $4.05 and last traded at $4.08. Approximately 3,599 shares changed hands during trading, a decline of 99% from the average daily volume of 710,784 shares. The stock had previously closed at $4.29.
A number of other equities research analysts have also issued reports on the company. Oppenheimer initiated coverage on Starry Group in a research report on Thursday, June 2nd. They issued a “market perform” rating and a $10.00 price target for the company. Moffett Nathanson initiated coverage on Starry Group in a research report on Monday, June 13th. They issued a “buy” rating and a $11.00 price target for the company. Cowen initiated coverage on Starry Group in a research report on Friday, June 17th. They issued an “outperform” rating and a $9.00 price target for the company. Piper Sandler started coverage on Starry Group in a research report on Friday, June 3rd. They issued a “market perform” rating and a $10.00 price target for the company. Finally, Citigroup started coverage on Starry Group in a research report on Thursday, May 12th. They issued a “neutral” rating and a $9.50 price objective for the company. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Starry Group has a consensus rating of “Hold” and an average target price of $8.93.
Insider Buying and Selling
In other Starry Group news, major shareholder Tiger Global Management Llc sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 21st. The stock was sold at an average price of $5.09, for a total transaction of $509,000.00. Following the transaction, the insider now directly owns 907,970 shares in the company, valued at $4,621,567.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 293,386 shares of company stock worth $1,397,133.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. West Branch Capital LLC acquired a new position in Starry Group during the first quarter worth $25,000. Citigroup Inc. acquired a new stake in shares of Starry Group in the first quarter valued at $26,000. Bank of America Corp DE acquired a new stake in shares of Starry Group in the first quarter valued at $36,000. Penserra Capital Management LLC acquired a new stake in shares of Starry Group in the first quarter valued at $43,000. Finally, Ergoteles LLC acquired a new stake in shares of Starry Group in the first quarter valued at $94,000.
Starry Group Stock Down 4.9 %
The company has a debt-to-equity ratio of 5.13, a current ratio of 4.27 and a quick ratio of 4.27. The firm’s 50 day simple moving average is $4.59.
Starry Group (NYSE:STRY – Get Rating) last posted its quarterly earnings results on Thursday, May 12th. The company reported ($1.29) earnings per share for the quarter. The business had revenue of $7.37 million during the quarter. Analysts anticipate that Starry Group Holdings, Inc. will post -0.56 EPS for the current year.
Starry Group Company Profile
Starry Group Holdings, Inc operates as a next generation licensed fixed wireless technology developer and internet service provider. The company is deploying gigabit capable broadband to the home using its hybrid fiber fixed wireless technology. It serves approximately 5.3 million households through deploying its gigabit network in six U.S.