CSLM Acquisition (NASDAQ:SPWR) Director Sells $40,800.00 in Stock

CSLM Acquisition Corp. (NASDAQ:SPWR) Director Adam Gishen sold 20,000 shares of CSLM Acquisition stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $2.04, for a total transaction of $40,800.00. Following the sale, the director directly owned 99,999 shares in the company, valued at $203,997.96. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

CSLM Acquisition Price Performance

NASDAQ:SPWR opened at $1.80 on Friday. The firm’s 50 day simple moving average is $1.71 and its 200 day simple moving average is $1.67. CSLM Acquisition Corp. has a one year low of $1.19 and a one year high of $2.50. The company has a market cap of $149.60 million, a PE ratio of -2.57 and a beta of 0.80.

CSLM Acquisition (NASDAQ:SPWR) last posted its earnings results on Wednesday, August 13th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.29). CSLM Acquisition had a negative return on equity of 0.35% and a negative net margin of 18.51%.The business had revenue of $67.52 million for the quarter, compared to analyst estimates of $52.26 million.

Analyst Ratings Changes

SPWR has been the topic of several recent research reports. Northland Securities lifted their target price on CSLM Acquisition from $3.00 to $5.40 and gave the stock an “outperform” rating in a report on Friday, September 26th. Wall Street Zen raised CSLM Acquisition from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Northland Capmk raised CSLM Acquisition to a “strong-buy” rating in a report on Monday, September 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CSLM Acquisition in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, CSLM Acquisition currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.70.

About CSLM Acquisition

Complete Solaria, Inc engages in the provision of solar services. It offers sales enablement, project management, partner coordination, and customer communication. The company is headquartered in San Ramon, CA and does business as SunPower Corporation.