CSLM Acquisition (NASDAQ:SPWR) Now Covered by Analysts 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.

Northland Securities assumed coverage on shares of CSLM Acquisition (NASDAQ:SPWR - Get Free Report) in a note issued to investors on Monday,Briefing.com Automated Import reports. The firm set an "outperform" rating and a $3.00 price target on the stock. Northland Securities' price target would suggest a potential upside of 100.00% from the company's current price.

Separately, Wall Street Zen downgraded CSLM Acquisition from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, CSLM Acquisition has a consensus rating of "Moderate Buy" and an average price target of $4.50.

CSLM Acquisition Stock Down 1.3%

Shares of SPWR opened at $1.50 on Monday. The stock has a fifty day simple moving average of $1.67 and a two-hundred day simple moving average of $1.66. CSLM Acquisition has a 52-week low of $1.19 and a 52-week high of $3.37.

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

Institutional Investors Weigh In On CSLM Acquisition

A number of institutional investors and hedge funds have recently made changes to their positions in the business. OMERS ADMINISTRATION Corp purchased a new position in CSLM Acquisition in the fourth quarter worth $250,000. Millennium Management LLC grew its stake in CSLM Acquisition 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. Finally, Bridgeway Capital Management LLC raised its stake in shares of CSLM Acquisition by 108.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 134,500 shares of the company's stock valued at $241,000 after purchasing an additional 70,000 shares during the period. Institutional investors and hedge funds own 47.36% of the company's stock.

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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