Short Interest in Churchill Capital Corp IX (NASDAQ:CCIX) Drops By 73.0%

Churchill Capital Corp IX (NASDAQ:CCIX) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 2,834 shares, a decline of 73.0% from the April 30th total of 10,480 shares. Based on an average daily trading volume, of 81,731 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the company’s shares are sold short.

Analyst Ratings Changes

Several research firms have issued reports on CCIX. Wall Street Zen upgraded shares of Churchill Capital Corp IX from a “sell” rating to a “hold” rating in a research note on Monday, March 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Churchill Capital Corp IX in a research note on Wednesday, May 6th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Churchill Capital Corp IX currently has an average rating of “Sell”.

Churchill Capital Corp IX Stock Performance

Shares of CCIX stock traded up $0.01 on Friday, hitting $10.82. The stock had a trading volume of 37,146 shares, compared to its average volume of 222,402. The firm has a market capitalization of $396.48 million, a price-to-earnings ratio of 56.92 and a beta of -0.05. The stock’s 50 day moving average is $10.74 and its 200-day moving average is $10.67. Churchill Capital Corp IX has a 52-week low of $10.45 and a 52-week high of $11.40.

Churchill Capital Corp IX (NASDAQ:CCIX) last announced its earnings results on Friday, May 15th. The company reported $0.04 earnings per share for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fort Baker Capital Management LP boosted its stake in shares of Churchill Capital Corp IX by 10.6% in the third quarter. Fort Baker Capital Management LP now owns 2,833,119 shares of the company’s stock valued at $29,691,000 after purchasing an additional 270,441 shares during the period. TENOR CAPITAL MANAGEMENT Co. L.P. boosted its stake in shares of Churchill Capital Corp IX by 88.0% in the fourth quarter. TENOR CAPITAL MANAGEMENT Co. L.P. now owns 2,702,188 shares of the company’s stock valued at $28,724,000 after purchasing an additional 1,264,688 shares during the period. Berkley W R Corp boosted its stake in Churchill Capital Corp IX by 93.4% during the 1st quarter. Berkley W R Corp now owns 1,810,437 shares of the company’s stock valued at $19,335,000 after acquiring an additional 874,256 shares during the last quarter. Meteora Capital LLC boosted its stake in Churchill Capital Corp IX by 42.2% during the 4th quarter. Meteora Capital LLC now owns 949,652 shares of the company’s stock valued at $10,095,000 after acquiring an additional 281,628 shares during the last quarter. Finally, Crossingbridge Advisors LLC bought a new position in Churchill Capital Corp IX during the 4th quarter valued at $4,774,000.

About Churchill Capital Corp IX

Coleman Cable, Inc (Coleman) is a designer, developer, manufacturer and supplier of electrical wire and cable products for consumer, commercial and industrial applications, with operations primarily in the United States and in Honduras and Canada. The Company’s wire and cable products enable it to offer its customers a single source for many of their wire and cable product requirements. It manufactures its products in 10 domestic manufacturing locations and supplement its domestic production with both international and domestic sourcing.