Complete Solaria, Inc. (NASDAQ:CSLR) Sees Large Growth in Short Interest

Complete Solaria, Inc. (NASDAQ:CSLR) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 1,250,000 shares, an increase of 37.1% from the October 15th total of 911,600 shares. Based on an average trading volume of 667,600 shares, the short-interest ratio is currently 1.9 days. Approximately 3.1% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald restated an “overweight” rating and set a $6.00 target price on shares of Complete Solaria in a research note on Thursday.

Complete Solaria Stock Up 21.1 %

Shares of NASDAQ CSLR traded up $0.39 during mid-day trading on Thursday, hitting $2.24. 1,976,772 shares of the company’s stock traded hands, compared to its average volume of 1,314,990. The company’s 50-day moving average is $2.32 and its two-hundred day moving average is $1.73. Complete Solaria has a 1 year low of $0.20 and a 1 year high of $3.37.

Complete Solaria (NASDAQ:CSLR) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.23) earnings per share (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 analysts’ expectations of $11.00 million.

Insider Buying and Selling

In other Complete Solaria news, major shareholder Solis Holdings L.L.C. Crsef sold 133,643 shares of Complete Solaria stock in a transaction that occurred on 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 sale, the insider now owns 4,767,697 shares of the company’s stock, valued at approximately $11,966,919.47. The trade was a 2.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Adam Gishen sold 15,526 shares of Complete Solaria stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $1.75, for a total transaction of $27,170.50. Following the completion of the sale, the director now directly owns 337,742 shares of the company’s stock, valued at approximately $591,048.50. This trade represents a 4.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,721,540 shares of company stock worth $3,762,066 in the last three months. Insiders own 92.48% of the company’s stock.

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.