CSLM Acquisition (NASDAQ:SPWR) Coverage Initiated at Northland Securities

Key Points

• Northland Securities has initiated coverage of CSLM Acquisition (NASDAQ:SPWR) with an "outperform" rating and a price target of $3.00, indicating a potential upside of 100% from its current price.
• CSLM Acquisition reported a quarterly loss of ($0.28) EPS, significantly missing the consensus estimate, despite revenues of $67.52 million exceeding expectations.
• Institutional investors hold 47.36% of CSLM Acquisition's stock, with notable increases in stakes from firms like Millennium Management and Bridgeway Capital Management.

Stock analysts at Northland Securities started coverage on shares of CSLM Acquisition (NASDAQ:SPWR - Get Free Report) in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage set an "outperform" rating and a $3.00 price target on the stock. Northland Securities' price objective would suggest a potential upside of 94.81% from the stock's previous close.

Separately, Wall Street Zen cut CSLM Acquisition from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $4.50.

CSLM Acquisition Price Performance

SPWR traded down $0.01 on Monday, reaching $1.54. The stock had a trading volume of 354,458 shares, compared to its average volume of 558,488. CSLM Acquisition has a fifty-two week low of $1.19 and a fifty-two week high of $3.37. The firm has a 50-day moving average of $1.63 and a 200-day moving average of $1.65.

CSLM Acquisition (NASDAQ:SPWR - Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.29). CSLM Acquisition had a negative return on equity of 0.35% and a negative net margin of 18.51%.The firm had revenue of $67.52 million during the quarter, compared to analyst estimates of $52.26 million.

Institutional Investors Weigh In On CSLM Acquisition

A number of institutional investors have recently made changes to their positions in SPWR. OMERS ADMINISTRATION Corp bought a new stake in shares of CSLM Acquisition in the 4th quarter valued at about $250,000. Bridgeway Capital Management LLC grew its stake in CSLM Acquisition by 108.5% during the fourth 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. Finally, Millennium Management LLC increased its holdings in CSLM Acquisition by 173.1% in the fourth quarter. Millennium Management LLC now owns 27,497 shares of the company's stock worth $49,000 after purchasing an additional 17,429 shares in the last quarter. Institutional investors own 47.36% of the company's stock.

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.