CSLM Acquisition (NASDAQ:SPWR) Announces Quarterly Earnings Results, Misses Estimates By $0.29 EPS

Key Points

• CSLM Acquisition reported an earnings per share (EPS) of ($0.28) for the quarter, with revenues of $67.52 million and negative net margins of 18.51%.
• The stock price increased by 6.3% to $1.68, with a trading volume of over 1 million shares, surpassing its average volume.
• CEO Thurman J. Rodgers purchased 606,000 shares at $1.68 each, significantly increasing his ownership stake in the company by 425.53%.

CSLM Acquisition (NASDAQ:SPWR - Get Free Report) posted its earnings results on Wednesday, August 13th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.29), Zacks reports. 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 net margin of 18.51% and a negative return on equity of 0.35%.

CSLM Acquisition Stock Performance

SPWR traded down $0.01 during midday trading on Wednesday, reaching $1.64. The company had a trading volume of 613,300 shares, compared to its average volume of 852,149. The business has a 50-day moving average of $1.72 and a two-hundred day moving average of $1.68. CSLM Acquisition has a 1 year low of $1.19 and a 1 year high of $3.37.

Insider Buying and Selling at CSLM Acquisition

In other news, CEO Thurman J. Rodgers purchased 606,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was acquired at an average cost of $1.68 per share, for a total transaction of $1,018,080.00. Following the completion of the transaction, the chief executive officer directly owned 463,589 shares in the company, valued at $778,829.52. This trade represents a -425.53% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 32.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of CSLM Acquisition from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.00.

CSLM Acquisition 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.