CSLM Acquisition (NASDAQ:SPWR) Price Target Raised to $5.40

Key Points

• The price target for CSLM Acquisition (NASDAQ:SPWR) has been raised by Northland Securities from $3.00 to $5.40, suggesting a potential upside of 176.21% from the stock's previous close.
• CSLM Acquisition's stock rose 19.9% in recent trading, reaching $1.96, with a trading volume significantly above average.
• A recent earnings report showed that CSLM Acquisition missed earnings expectations with a loss of ($0.28) per share, despite exceeding revenue expectations at $67.52 million.

CSLM Acquisition (NASDAQ:SPWR - Get Free Report) had its price target increased by stock analysts at Northland Securities from $3.00 to $5.40 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Northland Securities' target price would suggest a potential upside of 176.21% from the stock's previous close.

SPWR has been the topic of several other research reports. Wall Street Zen lowered shares of CSLM Acquisition from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. Northland Capmk raised shares of CSLM Acquisition to a "strong-buy" rating in a report on Monday, September 8th. One research 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 company's stock. Based on data from MarketBeat.com, CSLM Acquisition presently has an average rating of "Buy" and a consensus price target of $5.70.

CSLM Acquisition Stock Up 19.9%

CSLM Acquisition stock traded up $0.33 during midday trading on Friday, hitting $1.96. 3,645,427 shares of the stock were exchanged, compared to its average volume of 747,773. CSLM Acquisition has a 52-week low of $1.19 and a 52-week high of $3.04. The business's 50-day moving average price is $1.60 and its 200-day moving average price is $1.64.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in CSLM Acquisition stock. Millennium Management LLC grew its position in CSLM Acquisition Corp. (NASDAQ:SPWR - Free Report) by 173.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund 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 as of its most recent SEC filing. 47.36% of the stock is owned by hedge funds and other institutional investors.

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.

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