Gores Holdings X, Inc. / CI (NASDAQ:GTEN) Sees Significant Decrease in Short Interest

Gores Holdings X, Inc. / CI (NASDAQ:GTEN) saw a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 1,418 shares, a decline of 79.5% from the August 31st total of 6,904 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average trading volume of 2,064 shares, the short-interest ratio is presently 0.7 days.

Gores Holdings X, Inc. / CI Price Performance

Gores Holdings X, Inc. / CI stock traded down $0.04 during mid-day trading on Friday, hitting $10.45. 2,153 shares of the company were exchanged, compared to its average volume of 1,385. Gores Holdings X, Inc. / CI has a 12-month low of $10.19 and a 12-month high of $10.99. The company has a market capitalization of $471.09 million, a P/E ratio of 74.64 and a beta of 0.11. The business’s 50 day simple moving average is $10.55 and its two-hundred day simple moving average is $10.42.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. SkyView Investment Advisors LLC purchased a new position in Gores Holdings X, Inc. / CI in the 2nd quarter valued at about $1,565,000. Lineage Point Capital LP purchased a new stake in shares of Gores Holdings X, Inc. / CI during the fourth quarter worth about $2,618,000. Governors Lane LP raised its position in shares of Gores Holdings X, Inc. / CI by 91.2% in the fourth quarter. Governors Lane LP now owns 672,658 shares of the company’s stock valued at $6,895,000 after buying an additional 320,858 shares during the last quarter. Sona Asset Management US LLC acquired a new position in shares of Gores Holdings X, Inc. / CI in the first quarter valued at approximately $1,631,000. Finally, Harraden Circle Investments LLC purchased a new position in shares of Gores Holdings X, Inc. / CI during the second quarter valued at approximately $657,000.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Gores Holdings X, Inc. / CI from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

About Gores Holdings X, Inc. / CI

Gores Holdings X, Inc is a special purpose acquisition company (SPAC) formed to identify and combine with one or more businesses through a merger, stock purchase, or similar transaction. Unlike an operating company, it does not have an established line of products or services and generally has no commercial operations before completing a business combination.

The company was sponsored by an affiliate of The Gores Group, an investment firm founded by Alec Gores. Its acquisition strategy was not limited to a specific industry or geography, allowing it to evaluate potential targets in a range of sectors and markets.