Cantor Fitzgerald Reaffirms “Overweight” Rating for Complete Solaria (NASDAQ:CSLR)

Complete Solaria (NASDAQ:CSLR)‘s stock had its “overweight” rating restated by equities researchers at Cantor Fitzgerald in a research note issued on Thursday,Benzinga reports. They presently have a $6.00 target price on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 206.12% from the company’s current price.

Complete Solaria Trading Down 12.5 %

Shares of CSLR stock opened at $1.96 on Thursday. Complete Solaria has a fifty-two week low of $0.20 and a fifty-two week high of $3.37. The stock has a 50 day moving average price of $2.33 and a two-hundred day moving average price of $1.74.

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

Insider Activity

In related news, major shareholder Solis Holdings L.L.C. Crsef sold 133,643 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $2.51, for a total transaction of $335,443.93. Following the completion of the transaction, the insider now owns 4,767,697 shares of the company’s stock, valued at $11,966,919.47. This trade represents a 2.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Carlyle Group Inc. sold 275,000 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $2.20, for a total transaction of $605,000.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,691,540 shares of company stock worth $3,714,366 in the last quarter. 92.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Complete Solaria

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

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.