Complete Solaria (NASDAQ:SPWR) Trading Down 5.4% - Here's What Happened

Complete Solaria, Inc. (NASDAQ:SPWR - Get Free Report)'s share price dropped 5.4% during trading on Thursday . The company traded as low as $1.73 and last traded at $1.74. Approximately 1,601,836 shares were traded during mid-day trading, an increase of 187% from the average daily volume of 557,573 shares. The stock had previously closed at $1.84.

Analysts Set New Price Targets

SPWR has been the topic of a number of recent research reports. Wall Street Zen cut shares of Complete Solaria from a "buy" rating to a "hold" rating in a report on Thursday. Janney Montgomery Scott lowered shares of Complete Solaria from a "buy" rating to a "neutral" rating in a research note on Thursday, March 13th.

Complete Solaria Stock Down 2.0%

The stock has a fifty day moving average price of $1.58 and a 200-day moving average price of $1.78.

Insider Buying and Selling at Complete Solaria

In other news, CEO Thurman J. Rodgers purchased 606,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were acquired at an average cost of $1.68 per share, for a total transaction of $1,018,080.00. Following the completion of the purchase, the chief executive officer now directly owns 463,589 shares in the company, valued at $778,829.52. The trade was a -425.53% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 32.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Complete Solaria

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. OMERS ADMINISTRATION Corp acquired a new position in Complete Solaria during the fourth quarter worth $250,000. Millennium Management LLC grew its stake in shares of Complete Solaria by 173.1% during the 4th quarter. Millennium Management LLC now owns 27,497 shares of the company's stock worth $49,000 after purchasing an additional 17,429 shares during the period. Bridgeway Capital Management LLC grew its stake in shares of Complete Solaria by 108.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 134,500 shares of the company's stock worth $241,000 after purchasing an additional 70,000 shares during the period. Alyeska Investment Group L.P. grew its stake in shares of Complete Solaria by 1,538.7% during the 4th quarter. Alyeska Investment Group L.P. now owns 219,080 shares of the company's stock worth $392,000 after purchasing an additional 205,711 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Complete Solaria during the 4th quarter worth $512,000. Institutional investors and hedge funds own 47.36% of the company's stock.

Complete Solaria Company Profile

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.