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

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

Complete Solaria Stock Down 5.2 %

Shares of NASDAQ:CSLR opened at $2.35 on Tuesday. The company has a 50-day simple moving average of $1.95 and a 200-day simple moving average of $1.37. Complete Solaria has a one year low of $0.20 and a one year high of $3.37.

Complete Solaria (NASDAQ:CSLR) last announced its earnings results on Wednesday, August 14th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.16). The firm had revenue of $4.49 million for the quarter, compared to analyst estimates of $11.00 million. Sell-side analysts predict that Complete Solaria will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Adam Gishen sold 15,526 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $1.75, for a total transaction of $27,170.50. Following the completion of the transaction, the director now directly owns 337,742 shares of the company’s stock, valued at $591,048.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Adam Gishen sold 15,526 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $1.75, for a total transaction of $27,170.50. Following the completion of the transaction, the director now directly owns 337,742 shares of the company’s stock, valued at $591,048.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Carlyle Group Inc. sold 35,143 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $1.40, for a total transaction of $49,200.20. Following the transaction, the insider now directly owns 4,901,340 shares of the company’s stock, valued at $6,861,876. The disclosure for this sale can be found here. Insiders sold 80,669 shares of company stock valued at $124,071 over the last ninety days. Corporate insiders own 92.48% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Symmetry Peak Management LLC acquired a new position in Complete Solaria during the fourth quarter worth about $48,000. K2 Principal Fund L.P. grew its position in Complete Solaria by 107.1% during the fourth quarter. K2 Principal Fund L.P. now owns 41,623 shares of the company’s stock worth $67,000 after buying an additional 21,524 shares during the period. Finally, Carlyle Group Inc. grew its position in Complete Solaria by 79.8% during the first quarter. Carlyle Group Inc. now owns 4,936,483 shares of the company’s stock worth $2,715,000 after buying an additional 2,190,604 shares during the period. 30.25% of the stock is currently owned by institutional investors and hedge funds.

About Complete Solaria

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.