CSLM Acquisition (NASDAQ:SPWR) Announces Earnings Results

CSLM Acquisition (NASDAQ:SPWR) issued its quarterly earnings data on Friday. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.07), Zacks reports. CSLM Acquisition had a negative return on equity of 0.35% and a negative net margin of 18.51%.

CSLM Acquisition Trading Up 0.3%

CSLM Acquisition stock traded up $0.01 during midday trading on Friday, reaching $1.75. 402,447 shares of the stock traded hands, compared to its average volume of 1,128,558. The firm has a market cap of $145.03 million, a PE ratio of -2.49 and a beta of 0.80. The company has a 50-day simple moving average of $1.71 and a two-hundred day simple moving average of $1.70. CSLM Acquisition has a 12-month low of $1.19 and a 12-month high of $2.50.

Insider Activity at CSLM Acquisition

In other news, Director Adam Gishen sold 20,000 shares of the company’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $2.04, for a total transaction of $40,800.00. Following the sale, the director owned 99,999 shares of the company’s stock, valued at approximately $203,997.96. This represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 32.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SPWR has been the topic of a number of research reports. Northland Securities raised their target price on shares of CSLM Acquisition from $3.00 to $5.40 and gave the stock an “outperform” rating in a research note on Friday, September 26th. Northland Capmk upgraded CSLM Acquisition to a “strong-buy” rating in a report on Monday, September 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of CSLM Acquisition in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of CSLM Acquisition from a “sell” rating to a “hold” rating in a report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.40.

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.