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

Complete Solaria, Inc. (NASDAQ:SPWR - Get Free Report) shares dropped 5.4% during trading on Thursday . The stock 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.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SPWR shares. Wall Street Zen cut Complete Solaria from a "buy" rating to a "hold" rating in a research report on Thursday. Janney Montgomery Scott lowered shares of Complete Solaria from a "buy" rating to a "neutral" rating in a report on Thursday, March 13th.

Complete Solaria Trading Down 5.4%

The company has a 50 day simple moving average of $1.56 and a 200 day simple moving average of $1.79.

Insiders Place Their Bets

In other Complete Solaria news, CEO Thurman J. Rodgers acquired 21,177 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was bought at an average price of $1.49 per share, with a total value of $31,553.73. Following the purchase, the chief executive officer now owns 160,589 shares in the company, valued at approximately $239,277.61. The trade was a 15.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 32.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Complete Solaria

Institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its holdings in Complete Solaria by 173.1% in the 4th quarter. Millennium Management LLC now owns 27,497 shares of the company's stock valued at $49,000 after buying an additional 17,429 shares in the last quarter. Bridgeway Capital Management LLC boosted its position 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. OMERS ADMINISTRATION Corp acquired a new position in Complete Solaria during the 4th quarter worth about $250,000. Alyeska Investment Group L.P. boosted its stake in shares of Complete Solaria by 1,538.7% in the fourth quarter. Alyeska Investment Group L.P. now owns 219,080 shares of the company's stock valued at $392,000 after purchasing an additional 205,711 shares during the period. Finally, Diametric Capital LP grew its stake in shares of Complete Solaria by 35.8% in the fourth quarter. Diametric Capital LP now owns 229,912 shares of the company's stock worth $412,000 after acquiring an additional 60,600 shares in the last quarter. Hedge funds and other institutional investors 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.

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