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

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered CSLM Acquisition from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th.

CSLM Acquisition Trading Down 6.7%

The business has a 50-day moving average price of $1.73 and a two-hundred day moving average price of $1.72.

Insider Buying and Selling

In other CSLM Acquisition news, CEO Thurman J. Rodgers acquired 606,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were purchased at an average cost of $1.68 per share, with a total value of $1,018,080.00. Following the completion of the purchase, the chief executive officer owned 463,589 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 32.30% of the company's stock.

Institutional Investors Weigh In On CSLM Acquisition

A number of institutional investors and hedge funds have recently made changes to their positions in SPWR. Millennium Management LLC increased its holdings in CSLM Acquisition by 173.1% during the 4th quarter. Millennium Management LLC now owns 27,497 shares of the company's stock worth $49,000 after purchasing an additional 17,429 shares in the last quarter. Diametric Capital LP boosted its position in shares of CSLM Acquisition by 35.8% during the fourth quarter. Diametric Capital LP now owns 229,912 shares of the company's stock valued at $412,000 after buying an additional 60,600 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in CSLM Acquisition by 108.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 134,500 shares of the company's stock worth $241,000 after buying an additional 70,000 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in CSLM Acquisition in the 4th quarter valued at $250,000. Finally, Alyeska Investment Group L.P. grew its stake in shares of CSLM Acquisition by 1,538.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 219,080 shares of the company's stock worth $392,000 after acquiring an additional 205,711 shares in the last quarter. Institutional investors and hedge funds 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.