CSLM Acquisition (NASDAQ:SPWR) Trading Down 3.6% - Time to Sell?

CSLM Acquisition Corp. (NASDAQ:SPWR - Get Free Report)'s stock price dropped 3.6% during mid-day trading on Wednesday . The stock traded as low as $1.82 and last traded at $1.85. Approximately 1,152,671 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 1,452,903 shares. The stock had previously closed at $1.92.

Analyst Upgrades and Downgrades

SPWR has been the subject of several research reports. Wall Street Zen lowered CSLM Acquisition from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Janney Montgomery Scott lowered CSLM Acquisition from a "buy" rating to a "neutral" rating in a research report on Thursday, March 13th.

CSLM Acquisition Stock Performance

The stock has a 50-day moving average of $1.72 and a two-hundred day moving average of $1.72.

Insiders Place Their Bets

In related news, CEO Thurman J. Rodgers acquired 606,000 shares of CSLM Acquisition stock in a transaction that occurred on Tuesday, June 3rd. The stock was bought at an average price of $1.68 per share, with a total value of $1,018,080.00. Following the transaction, the chief executive officer directly owned 463,589 shares in the company, valued at approximately $778,829.52. This represents a -425.53% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 32.30% of the stock is currently owned by company insiders.

Institutional Trading of CSLM Acquisition

Several institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its stake in CSLM Acquisition by 173.1% during the 4th quarter. Millennium Management LLC now owns 27,497 shares of the company's stock valued at $49,000 after purchasing an additional 17,429 shares during the last quarter. Diametric Capital LP boosted its stake in CSLM Acquisition by 35.8% during the 4th quarter. Diametric Capital LP now owns 229,912 shares of the company's stock valued at $412,000 after purchasing an additional 60,600 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in 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 last quarter. OMERS ADMINISTRATION Corp purchased a new stake in CSLM Acquisition during the 4th quarter valued at $250,000. Finally, Alyeska Investment Group L.P. boosted its stake in CSLM Acquisition by 1,538.7% during the 4th quarter. Alyeska Investment Group L.P. now owns 219,080 shares of the company's stock valued at $392,000 after purchasing an additional 205,711 shares during the last quarter. 47.36% of the stock is currently owned by hedge funds and other 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.