CSLM Acquisition (NASDAQ:SPWR) Raised to Hold at Wall Street Zen

Key Points

• CSLM Acquisition's stock was upgraded by Wall Street Zen from a "sell" to a "hold" rating, alongside a price target increase from $3.00 to $5.40 by Northland Securities.
• The company reported a loss per share of ($0.28) for the last quarter, missing analysts' expectations, while revenue was significantly above forecasts at $67.52 million.
• Millennium Management LLC increased its stake in CSLM Acquisition by 173.1%, reflecting growing institutional interest in the company.

CSLM Acquisition (NASDAQ:SPWR - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Friday.

Other equities analysts have also recently issued research reports about the stock. Northland Securities boosted their price objective on shares of CSLM Acquisition from $3.00 to $5.40 and gave the company an "outperform" rating in a research note on Friday. Northland Capmk raised shares of CSLM Acquisition to a "strong-buy" rating in a research note on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $5.70.

CSLM Acquisition Trading Up 8.6%

SPWR opened at $1.77 on Friday. The firm has a 50-day moving average price of $1.60 and a 200-day moving average price of $1.64. CSLM Acquisition has a twelve month low of $1.19 and a twelve month high of $3.04.

CSLM Acquisition (NASDAQ:SPWR - Get Free Report) last posted its 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 business had revenue of $67.52 million during 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%.

Hedge Funds Weigh In On CSLM Acquisition

A hedge fund recently raised its stake in CSLM Acquisition stock. Millennium Management LLC grew its stake in CSLM Acquisition Corp. (NASDAQ:SPWR - Free Report) by 173.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period. 47.36% of the stock is owned by institutional investors.

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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