CSLM Acquisition (NASDAQ:SPWR) Stock Price Down 3.6% - Here's What Happened

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Janney Montgomery Scott lowered shares of CSLM Acquisition from a "buy" rating to a "neutral" rating in a research report on Thursday, March 13th. Wall Street Zen downgraded shares of CSLM Acquisition from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th.

CSLM Acquisition Stock Performance

The company's 50-day moving average is $1.72 and its 200 day moving average is $1.72.

Insider Buying and Selling

In other news, CEO Thurman J. Rodgers acquired 606,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were bought at an average cost of $1.68 per share, with a total value of $1,018,080.00. Following the transaction, the chief executive officer owned 463,589 shares of the company's stock, valued at $778,829.52. This trade represents a -425.53% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 32.30% of the company's stock.

Hedge Funds Weigh In On CSLM Acquisition

Several hedge funds and other institutional investors have recently bought and sold shares of SPWR. Millennium Management LLC lifted 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 acquiring an additional 17,429 shares during the period. Bridgeway Capital Management LLC grew its holdings 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 buying an additional 70,000 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in CSLM Acquisition during the fourth quarter valued at $250,000. Alyeska Investment Group L.P. raised its stake in CSLM Acquisition by 1,538.7% during the fourth 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 in the last quarter. Finally, Diametric Capital LP boosted its stake in CSLM Acquisition by 35.8% during the fourth quarter. Diametric Capital LP now owns 229,912 shares of the company's stock worth $412,000 after buying an additional 60,600 shares during the period. Institutional investors own 47.36% of the company's stock.

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.