Short Interest in Churchill Capital Corp X (NASDAQ:CCCX) Rises By 117.1%

Churchill Capital Corp X (NASDAQ:CCCX) was the recipient of a large increase in short interest in February. As of February 13th, there was short interest totaling 1,567,588 shares, an increase of 117.1% from the January 29th total of 721,984 shares. Based on an average daily volume of 3,501,770 shares, the short-interest ratio is presently 0.4 days. Currently, 3.0% of the shares of the stock are sold short. Currently, 3.0% of the shares of the stock are sold short. Based on an average daily volume of 3,501,770 shares, the short-interest ratio is presently 0.4 days.

Churchill Capital Corp X Price Performance

Shares of Churchill Capital Corp X stock opened at $13.66 on Friday. The firm’s 50 day moving average price is $15.50. Churchill Capital Corp X has a 12 month low of $10.03 and a 12 month high of $27.50.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Churchill Capital Corp X in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Investors Weigh In On Churchill Capital Corp X

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fort Baker Capital Management LP acquired a new stake in shares of Churchill Capital Corp X in the third quarter valued at about $22,153,000. MMCAP International Inc. SPC purchased a new stake in Churchill Capital Corp X during the 3rd quarter valued at about $20,317,000. Alberta Investment Management Corp purchased a new stake in Churchill Capital Corp X during the 3rd quarter valued at about $19,290,000. Magnetar Financial LLC acquired a new stake in Churchill Capital Corp X in the 3rd quarter valued at about $18,675,000. Finally, Highbridge Capital Management LLC purchased a new position in Churchill Capital Corp X in the 3rd quarter worth approximately $17,797,000.

About Churchill Capital Corp X

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.