Churchill Capital Corp IX (NASDAQ:CCIX) Short Interest Up 9,468.9% in July

Churchill Capital Corp IX (NASDAQ:CCIX) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 2,806,381 shares, a growth of 9,468.9% from the June 30th total of 29,328 shares. Based on an average daily volume of 1,181,999 shares, the short-interest ratio is presently 2.4 days. Approximately 9.8% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CCIX. Wall Street Zen upgraded Churchill Capital Corp IX to a “sell” rating in a report on Sunday, July 12th. Weiss Ratings restated a “sell (d+)” rating on shares of Churchill Capital Corp IX in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC acquired a new stake in shares of Churchill Capital Corp IX in the second quarter worth approximately $784,000. JPMorgan Chase & Co. acquired a new position in Churchill Capital Corp IX during the second quarter worth approximately $522,000. Shaolin Capital Management LLC acquired a new position in Churchill Capital Corp IX during the second quarter worth approximately $2,104,000. Sandia Investment Management LP purchased a new position in Churchill Capital Corp IX during the second quarter worth approximately $473,000. Finally, Massar Capital Management LP acquired a new position in shares of Churchill Capital Corp IX in the 2nd quarter valued at $1,841,000.

Churchill Capital Corp IX Stock Up 0.1%

Shares of CCIX traded up $0.01 on Friday, hitting $10.88. 383,504 shares of the stock traded hands, compared to its average volume of 297,133. The firm has a market capitalization of $398.86 million, a P/E ratio of 57.27 and a beta of -0.05. The stock’s 50 day moving average is $10.84 and its two-hundred day moving average is $10.74. Churchill Capital Corp IX has a 1 year low of $10.45 and a 1 year high of $11.32.

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

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.