Short Interest in Churchill Capital Corp X (NASDAQ:CCCX) Rises By 53.3%

Churchill Capital Corp X (NASDAQ:CCCX) was the target of a large growth in short interest in December. As of December 31st, there was short interest totaling 696,567 shares, a growth of 53.3% from the December 15th total of 454,295 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily volume of 1,956,690 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 1,956,690 shares, the days-to-cover ratio is currently 0.4 days. Currently, 1.3% of the shares of the stock are sold short.

Institutional Investors Weigh In On Churchill Capital Corp X

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCCX. FNY Investment Advisers LLC bought a new position in shares of Churchill Capital Corp X in the third quarter worth about $2,979,000. Hudson Bay Capital Management LP acquired a new stake in shares of Churchill Capital Corp X in the third quarter valued at approximately $129,000. IFP Advisors Inc acquired a new stake in shares of Churchill Capital Corp X in the third quarter valued at approximately $122,000. Polar Asset Management Partners Inc. bought a new position in Churchill Capital Corp X in the 3rd quarter worth approximately $5,144,000. Finally, Cantor Fitzgerald L. P. acquired a new position in Churchill Capital Corp X during the 3rd quarter worth $283,000.

Churchill Capital Corp X Stock Performance

Shares of CCCX stock traded up $0.28 during trading hours on Friday, hitting $17.45. 779,824 shares of the company’s stock were exchanged, compared to its average volume of 2,087,120. Churchill Capital Corp X has a 52 week low of $10.03 and a 52 week high of $27.50. The company has a 50-day moving average price of $15.74.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Churchill Capital Corp X in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Churchill Capital Corp X Company Profile

Churchill Capital Corp X (NASDAQ: CCCX) is a special purpose acquisition company (SPAC), commonly referred to as a blank?check company, formed to raise capital through an initial public offering for the purpose of effecting one or more business combinations. As a SPAC, it initially holds the proceeds from its public offering in a trust account while management and the sponsor identify and negotiate a potential merger, acquisition, or other qualifying business combination that would result in the acquired company becoming publicly listed.

The company’s primary activities are sourcing, evaluating and completing a business combination with a target company.