Starry Group Holdings Inc. [NYSE: STRY] stock went on an upward path that rose over 0.70% on Tuesday, amounting to a one-week price decrease of less than -31.96%. The company report on November 14, 2022 that Starry Receives Notice of NYSE Trading Share Price Listing Rule Non-Compliance.
The Company intends to cure the deficiency and return to compliance with NYSE listing standard.
Starry Group Holdings, Inc. (NYSE: STRY) (the “Company” or “Starry”), a licensed fixed wireless technology developer and internet service provider, today announced that on November 8, 2022, it had received a deficiency letter from the New York Stock Exchange (the “NYSE”) notifying the Company that it is not in compliance with applicable price criteria in the NYSE’s continued listing standards because, as of November 7, 2022, the average closing price of the Starry’s Class A Common Stock was less than $1.00 per share over a consecutive 30 trading-day period.
Over the last 12 months, STRY stock dropped by -98.98%. The one-year Starry Group Holdings Inc. stock forecast points to a potential upside of 97.26. The average equity rating for STRY stock is currently 3.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $17.99 million, with 162.69 million shares outstanding and 118.86 million shares in the current float. Compared to the average trading volume of 4.78M shares, STRY stock reached a trading volume of 16151162 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Starry Group Holdings Inc. [STRY]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for STRY shares is $3.65 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on STRY stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Cowen have made an estimate for Starry Group Holdings Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 17, 2022. While these analysts kept the previous recommendation, MoffettNathanson raised their target price to Buy. The new note on the price target was released on June 13, 2022, representing the official price target for Starry Group Holdings Inc. stock. Previously, the target price had yet another raise to $10, while Oppenheimer analysts kept a Perform rating on STRY stock.
The Average True Range (ATR) for Starry Group Holdings Inc. is set at 0.04, with the Price to Sales ratio for STRY stock in the period of the last 12 months amounting to 0.60.
STRY Stock Performance Analysis:
Starry Group Holdings Inc. [STRY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -31.96. With this latest performance, STRY shares dropped by -66.15% in over the last four-week period, additionally sinking by -97.72% over the last 6 months – not to mention a drop of -98.98% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for STRY stock in for the last two-week period is set at 21.97, with the RSI for the last a single of trading hit 16.33, and the three-weeks RSI is set at 25.58 for Starry Group Holdings Inc. [STRY]. The present Moving Average for the last 50 days of trading for this stock 0.4927, while it was recorded at 0.1057 for the last single week of trading.
Insight into Starry Group Holdings Inc. Fundamentals:
Starry Group Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.80.
Starry Group Holdings Inc. [STRY] Insider Position Details
There are presently around $7 million, or 62.00% of STRY stock, in the hands of institutional investors. The top three institutional holders of STRY stocks are: FMR LLC with ownership of 21,392,598, which is approximately -4.673% of the company’s market cap and around 5.90% of the total institutional ownership; TIGER GLOBAL MANAGEMENT LLC, holding 19,266,828 shares of the stock with an approximate value of $1.95 million in STRY stocks shares; and ARROWMARK COLORADO HOLDINGS LLC, currently with $1.43 million in STRY stock with ownership of nearly -1.23% of the company’s market capitalization.
Positions in Starry Group Holdings Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 29 institutional holders increased their position in Starry Group Holdings Inc. [NYSE:STRY] by around 895,257 shares. Additionally, 28 investors decreased positions by around 2,518,022 shares, while 10 investors held positions by with 69,464,566 shares. The mentioned changes placed institutional holdings at 72,877,845 shares, according to the latest SEC report filing. STRY stock had 11 new institutional investments in for a total of 461,707 shares, while 7 institutional investors sold positions of 111,817 shares during the same period.