Star Equity Holdings Inc. (STRR) shares gained 8.26% in after-hours on Friday, July 9, 2021, and closed the week at $3.67 per share. Earlier in the morning session, STRR’s stock gained 10.42% to close Friday’s morning session at $3.39 per share. STRR shares have risen 16.49% over the last 12 months, and they have moved up 15.70% in the past week. Over the past three months, the stock has gained 2.73%, while over the past six months, it has declined 14.53%.

Participation in the upcoming investor conference

Star Equity Holdings Inc will participate in the upcoming Access to Giving Virtual Conference, which is scheduled for Thursday, July 15, 2021. During the event, More than 50 companies are scheduled to conduct virtual presentations over three days as well as 1×1 meetings with qualified investors.

Adopting Right Agreement to Protect Net Operating Losses

On June 02, 2021, the board of directors of Star Equity Holdings adopted the Rights Agreement with American Stock Transfer & Trust Company, LLC, as rights agent, designed to preserve the value of the Company’s significant U.S. net operating loss carryforwards and other tax benefits.

Although the Rights Agreement will be effective immediately according to its terms, still the company has to seek stockholder approval of the Rights Agreement at its 2021 annual meeting of stockholders.

Dividend Declaration

On May 26, 2021, the Board of Directors of Star Equity Holdings, Inc declared a cash dividend to holders of the Company’s 10% Series A Cumulative Perpetual Preferred Stock of $0.25 per share. The record date for this dividend is June 1, 2021, and the payment date is June 11, 2021.

Recent financial results announcement

On May 14, 2021, Star Equity Holdings, Inc released its financial results for the first quarter (Q1) ended March 31, 2021.

Q1 2021 financial highlights

• Star Equity Holdings earned a revenue of $22.4 million in Q1 2021 compared to $19.2 million in Q1 2020.
• In Q1 2021 gross profit was $3.1 million compared to $3.2 million in Q1 2020.
• The total operating expenses were $4.65 million in Q1 2021 compared to $5.44 million in Q1 2020.
• The company suffered a net loss of $0.6 million or $0.12 per basic and diluted share in Q1 2021 compared to a net loss of $2.4 million or $1.15 per basic and diluted share in Q1 2020.
• Adjusted EBITDA was negative $0.9 million in Q1 2021 compared to negative $0.5 million in Q1 2020.
• The company had cash and cash equivalents and restricted cash of $13.3 million on March 31, 2021.

Conclusion

Well, as of this writing, there is no recent news for its recent performance on Friday. we can assume that STRR stock will perform well in the new trading week.