Of course! The Star-Strike System awards Stars and/or Strikes on a rolling two week basis, which means Averages, No-Show counts etc. are all based on your last two weeks on the platform.
Once you've lost a Star, you'll be locked out of regaining it for two weeks. I.e. If you were to lose a Star on the 1st July, you'd first be able to earn it back on the 15th July.