CSLM Acquisition Corp. (NASDAQ:SPWR) Receives Average Rating of "Buy" from Brokerages

Key Points

• CSLM Acquisition Corp. (NASDAQ:SPWR) has received a consensus rating of "Buy" from four research firms, with an average twelve-month price target of $5.70.
• SPWR shares recently traded up 2.1% to $1.99 and have a 52-week range between $1.19 and $2.80.
• A hedge fund increased its stake in CSLM Acquisition by 173.1%, indicating growing institutional interest, as around 47.36% of the stock is held by institutional investors.

CSLM Acquisition Corp. (NASDAQ:SPWR - Get Free Report) has been assigned a consensus rating of "Buy" from the four research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $5.70.

SPWR has been the subject of a number of research reports. Wall Street Zen upgraded CSLM Acquisition from a "sell" rating to a "hold" rating in a research report on Friday, September 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of CSLM Acquisition in a research report on Saturday, September 27th. Northland Securities upped their price target on CSLM Acquisition from $3.00 to $5.40 and gave the stock an "outperform" rating in a research report on Friday, September 26th. Finally, Northland Capmk upgraded CSLM Acquisition to a "strong-buy" rating in a research note on Monday, September 8th.

CSLM Acquisition Stock Up 2.1%

SPWR stock traded up $0.04 during midday trading on Friday, hitting $1.99. The stock had a trading volume of 3,235,176 shares, compared to its average volume of 788,678. CSLM Acquisition has a 52 week low of $1.19 and a 52 week high of $2.80. The stock has a 50-day simple moving average of $1.61 and a 200 day simple moving average of $1.64.

CSLM Acquisition (NASDAQ:SPWR - Get Free Report) last issued 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). The firm had revenue of $67.52 million during the quarter, compared to the consensus estimate of $52.26 million. CSLM Acquisition had a negative return on equity of 0.35% and a negative net margin of 18.51%.

Institutional Investors Weigh In On CSLM Acquisition

A hedge fund recently raised its stake in CSLM Acquisition stock. Millennium Management LLC grew its position in shares of CSLM Acquisition Corp. (NASDAQ:SPWR - Free Report) by 173.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,497 shares of the company's stock after buying an additional 17,429 shares during the period. Millennium Management LLC's holdings in CSLM Acquisition were worth $49,000 at the end of the most recent quarter. 47.36% of the stock is owned by institutional investors.

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.

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