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

Complete Solaria, Inc. (NASDAQ:CSLR) was the target of a significant 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. Currently, 3.1% of the shares of the company are sold short. Based on an average daily trading volume, of 667,600 shares, the short-interest ratio is currently 1.9 days.

Complete Solaria Stock Up 21.1 %

Shares of NASDAQ CSLR traded up $0.39 during trading on Thursday, hitting $2.24. The company had a trading volume of 1,976,772 shares, compared to its average volume of 1,314,990. The stock has a fifty day simple moving average of $2.32 and a two-hundred day simple moving average of $1.73. Complete Solaria has a fifty-two week low of $0.20 and a fifty-two week high of $3.37.

Complete Solaria (NASDAQ:CSLR) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate 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.

Insiders Place Their Bets

In related news, Director Tidjane Thiam sold 30,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $1.59, for a total transaction of $47,700.00. Following the sale, the director now owns 158,624 shares in the company, valued at approximately $252,212.16. This trade represents a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Carlyle Group Inc. sold 275,000 shares of the firm’s stock in a transaction on 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 owns 2,405,461 shares in the company, valued at approximately $5,292,014.20. This represents a 10.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,721,540 shares of company stock valued at $3,762,066. Insiders own 92.48% of the company’s stock.

Wall Street Analyst Weigh In

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

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.