Insider Selling: CSLM Acquisition (NASDAQ:SPWR) Director Sells 70,000 Shares

CSLM Acquisition Corp. (NASDAQ:SPWR) Director Adam Gishen sold 70,000 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $0.31, for a total value of $21,700.00. Following the sale, the director directly owned 140,655 shares in the company, valued at approximately $43,603.05. This represents a 33.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

CSLM Acquisition Price Performance

Shares of NASDAQ:SPWR traded up $0.03 during trading on Thursday, hitting $0.35. 8,379,991 shares of the company’s stock were exchanged, compared to its average volume of 4,770,430. The business’s 50-day simple moving average is $0.40 and its 200 day simple moving average is $0.84. The company has a market cap of $73.06 million, a price-to-earnings ratio of -1.84 and a beta of 0.70. CSLM Acquisition Corp. has a 52-week low of $0.20 and a 52-week high of $2.27.

Analysts Set New Price Targets

A number of analysts have issued reports on SPWR shares. Wall Street Zen upgraded shares of CSLM Acquisition from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of CSLM Acquisition in a report on Friday, July 24th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.40.

Hedge Funds Weigh In On CSLM Acquisition

Institutional investors and hedge funds have recently modified their holdings of the stock. Yorkville Advisors Global LP bought a new stake in CSLM Acquisition in the second quarter worth $378,537. Park West Asset Management LLC bought a new stake in shares of CSLM Acquisition in the 2nd quarter worth about $83,000. BlackRock Inc. purchased a new position in shares of CSLM Acquisition during the 2nd quarter worth about $862,000. Polar Asset Management Partners Inc. bought a new position in 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 about $1,611,000. Hedge funds and other 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.