CSLM Acquisition (NASDAQ:SPWR) Director Adam Gishen Sells 70,000 Shares

Key Points

• Director Adam Gishen sold 70,000 shares of CSLM Acquisition at an average price of $0.31, generating $21,700. His remaining stake fell to 140,655 shares, a 33.23% decrease in ownership.
• Shares rose to $0.35 in mid-day trading, but remain well below their 12-month high of $2.27. The company has a market capitalization of approximately $73.1 million.
• Institutional investors own 47.36% of the stock, while analysts maintain a consensus “Hold” rating and a target price of $5.40, despite divided opinions between Buy and Sell ratings.

CSLM Acquisition Corp. (NASDAQ:SPWR - Get Free Report) Director Adam Gishen sold 70,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $0.31, for a total transaction of $21,700.00. Following the completion of the sale, the director directly owned 140,655 shares in the company, valued at $43,603.05. This represents a 33.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

CSLM Acquisition Price Performance

CSLM Acquisition stock traded up $0.03 during mid-day trading on Thursday, hitting $0.35. The company's stock had a trading volume of 8,379,991 shares, compared to its average volume of 4,770,430. CSLM Acquisition Corp. has a 12 month low of $0.20 and a 12 month high of $2.27. The business has a 50 day moving average price of $0.40 and a 200-day moving average price of $0.84. The stock has a market cap of $73.06 million, a price-to-earnings ratio of -1.84 and a beta of 0.70.

Hedge Funds Weigh In On CSLM Acquisition

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Park West Asset Management LLC bought a new stake in CSLM Acquisition during the second quarter valued at approximately $83,000. Yorkville Advisors Global LP bought a new stake in CSLM Acquisition during the second quarter valued at about $378,537. BlackRock Inc. purchased a new stake in CSLM Acquisition in the second quarter worth about $862,000. Polar Asset Management Partners Inc. purchased a new position in shares of CSLM Acquisition during the 2nd quarter valued at about $1,436,000. Finally, Carlyle Group Inc. purchased a new stake in CSLM Acquisition in the 2nd quarter worth approximately $1,611,000. Institutional investors own 47.36% of the company's stock.

Wall Street Analysts Forecast Growth

SPWR has been the topic of several research reports. Wall Street Zen raised shares of CSLM Acquisition from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Weiss Ratings reissued a "sell (e+)" rating on shares of CSLM Acquisition in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, CSLM Acquisition currently has an average rating of "Hold" and a consensus target price of $5.40.

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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