Complete Solaria’s (CSLR) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Complete Solaria (NASDAQ:CSLR) in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a $6.00 price objective on the stock.

Complete Solaria Stock Down 12.5 %

CSLR stock opened at $1.96 on Thursday. Complete Solaria has a one year low of $0.20 and a one year high of $3.37. The firm’s 50 day moving average price is $2.33 and its 200-day moving average price is $1.75.

Complete Solaria (NASDAQ:CSLR) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.16). The firm had revenue of $4.49 million during the quarter, compared to analyst estimates of $11.00 million.

Insider Activity

In related news, major shareholder Carlyle Group Inc. sold 275,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $2.20, for a total transaction of $605,000.00. Following the completion of the transaction, the insider now directly owns 2,405,461 shares in the company, valued at $5,292,014.20. This trade represents a 10.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Solis Holdings L.L.C. Crsef sold 133,643 shares of Complete Solaria stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $2.51, for a total value of $335,443.93. Following the completion of the transaction, the insider now directly owns 4,767,697 shares of the company’s stock, valued at approximately $11,966,919.47. This represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,691,540 shares of company stock valued at $3,714,366. Company insiders own 92.48% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp lifted its holdings in Complete Solaria by 57.7% during the 3rd quarter. State Street Corp now owns 106,600 shares of the company’s stock worth $300,000 after buying an additional 39,000 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Complete Solaria in the third quarter worth $129,000. Quadrature Capital Ltd purchased a new stake in shares of Complete Solaria during the third quarter worth $81,000. Finally, Jane Street Group LLC acquired a new stake in shares of Complete Solaria in the third quarter valued at $51,000. Hedge funds and other institutional investors own 30.25% of the company’s stock.

Complete Solaria Company Profile

Complete Solaria, Inc provides custom solar solutions in the United States. The company offers solar systems to homeowners and small to medium-sized commercial customers. It also provides HelioQuoteTM software system, a platform for residential solar designs, proposals, and engineering services. In addition, the company installs solar systems, as well as provides financing solutions.