Short Interest in CSLM Acquisition Corp. (NASDAQ:SPWR) Expands By 34.4%

Key Points

• Short interest in CSLM Acquisition jumped 34.4% to 14,009,596 shares as of April 15, representing about 21.8% of shares sold short and a days-to-cover ratio of 14.6.
• Weiss Ratings downgraded CSLM from "hold (c-)" to "sell (d-)"; the stock trades at $0.89 with a $112.2M market cap, reported a quarterly EPS loss of $0.14, and has negative margins.

CSLM Acquisition Corp. (NASDAQ:SPWR - Get Free Report) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totaling 14,009,596 shares, a growth of 34.4% from the March 31st total of 10,425,861 shares. Based on an average daily trading volume, of 957,880 shares, the days-to-cover ratio is presently 14.6 days. Approximately 21.8% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of CSLM Acquisition from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, CSLM Acquisition has a consensus rating of "Hold" and a consensus target price of $5.40.

CSLM Acquisition Stock Down 2.0%

NASDAQ SPWR traded down $0.02 during trading on Tuesday, hitting $0.89. 1,330,576 shares of the stock traded hands, compared to its average volume of 1,583,501. CSLM Acquisition has a 12-month low of $0.85 and a 12-month high of $2.27. The firm has a 50-day simple moving average of $1.25 and a 200-day simple moving average of $1.54. The company has a market capitalization of $112.21 million, a P/E ratio of -1.89 and a beta of 0.84.

CSLM Acquisition (NASDAQ:SPWR - Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The company reported ($0.14) earnings per share (EPS) for the quarter. The firm had revenue of $79.73 million during the quarter. CSLM Acquisition had a negative return on equity of 16.64% and a negative net margin of 15.12%. As a group, research analysts predict that CSLM Acquisition will post -0.06 EPS for the current fiscal year.

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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