Churchill Capital Corp IX (NASDAQ:CCIX) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Churchill Capital Corp IX (NASDAQ:CCIX) moved above its 200-day moving average, trading as high as $10.87 versus a 200-day average of $10.74. The stock was last up about 0.1% with volume of 1.2 million shares.
• Analyst sentiment remains weak, with Weiss Ratings reiterating a sell (d+) rating and Wall Street Zen also rating the stock sell. MarketBeat data shows the stock’s average analyst rating is Sell.
• The company reported EPS of $0.04 in its latest earnings release, and recent filings showed several institutional investors adding new positions. CCIX has a market cap of about $398.5 million and a 50-day moving average of $10.83.

Churchill Capital Corp IX (NASDAQ:CCIX - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.74 and traded as high as $10.87. Churchill Capital Corp IX shares last traded at $10.87, with a volume of 1,206,407 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently commented on CCIX. Weiss Ratings restated a "sell (d+)" rating on shares of Churchill Capital Corp IX in a research report on Wednesday, May 6th. Wall Street Zen raised Churchill Capital Corp IX to a "sell" rating in a research report on Sunday, July 12th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Churchill Capital Corp IX has an average rating of "Sell".

Churchill Capital Corp IX Stock Up 0.1%

The stock's 50-day moving average is $10.83 and its 200 day moving average is $10.74. The stock has a market capitalization of $398.49 million, a PE ratio of 57.21 and a beta of -0.05.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CCIX. Mercuria Capital Strategies LLC acquired a new stake in shares of Churchill Capital Corp IX during the 4th quarter valued at about $93,000. Bank of America Corp DE acquired a new position in Churchill Capital Corp IX in the first quarter worth approximately $107,000. Lineage Point Capital LP bought a new position in Churchill Capital Corp IX during the fourth quarter valued at approximately $360,000. Sandia Investment Management LP acquired a new stake in Churchill Capital Corp IX in the second quarter valued at approximately $473,000. Finally, JPMorgan Chase & Co. bought a new stake in Churchill Capital Corp IX in the second quarter worth approximately $522,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.