CSLM Acquisition (NASDAQ:SPWR) Announces Quarterly Earnings Results

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) announced its quarterly 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), Zacks reports. 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.

CSLM Acquisition Stock Down 0.6%

CSLM Acquisition stock traded down $0.01 on Wednesday, reaching $1.64. 20,783 shares of the stock were exchanged, compared to its average volume of 749,930. CSLM Acquisition has a twelve month low of $1.19 and a twelve month high of $3.37. The firm has a fifty day moving average price of $1.72 and a two-hundred day moving average price of $1.68.

Insiders Place Their Bets

In other news, CEO Thurman J. Rodgers bought 606,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was purchased at an average price of $1.68 per share, with a total value of $1,018,080.00. Following the transaction, the chief executive officer directly owned 463,589 shares in the company, valued at approximately $778,829.52. The trade was a -425.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 44.60% of the stock is currently owned by corporate 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 note 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 MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $6.00.

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.