CSLM Acquisition (NASDAQ:SPWR) Cut to "Sell" at Wall Street Zen

Key Points

• CSLM Acquisition (NASDAQ:SPWR) was downgraded from a "hold" to a "sell" rating by analysts at Wall Street Zen in a recent report.
• The company's latest earnings report indicated a loss of ($0.28) EPS, significantly missing the consensus estimate, though revenue exceeded expectations at $67.52 million.
• CSLM Acquisition has an ongoing consensus rating of "Buy" with a target price of $4.50, despite the recent downgrade.

CSLM Acquisition (NASDAQ:SPWR - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

SPWR has been the topic of several other research reports. Northland Capmk upgraded shares of CSLM Acquisition to a "strong-buy" rating in a report on Monday, September 8th. Northland Securities assumed coverage on shares of CSLM Acquisition in a report on Monday, September 8th. They set an "outperform" rating and a $3.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $4.50.

CSLM Acquisition Stock Performance

Shares of SPWR traded up $0.07 during mid-day trading on Friday, hitting $1.65. 430,484 shares of the company traded hands, compared to its average volume of 426,645. CSLM Acquisition has a 1-year low of $1.19 and a 1-year high of $3.37. The business has a 50 day moving average of $1.60 and a 200 day moving average of $1.65.

CSLM Acquisition (NASDAQ:SPWR - Get Free Report) last posted 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). CSLM Acquisition had a negative net margin of 18.51% and a negative return on equity of 0.35%. The company had revenue of $67.52 million for the quarter, compared to analyst estimates of $52.26 million.

Institutional Investors Weigh In On CSLM Acquisition

An institutional investor recently raised its position in CSLM Acquisition stock. Millennium Management LLC lifted its position in shares of CSLM Acquisition Corp. (NASDAQ:SPWR - Free Report) by 173.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,497 shares of the company's stock after purchasing an additional 17,429 shares during the quarter. 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 currently owned by 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.