Churchill Capital Corp IX (NASDAQ:CCIX) Short Interest Down 34.1% in March

Key Points

• Short interest down 34.1% — short interest fell to 2,563 shares as of March 31 (down 34.1% from 3,889 on March 15), with a days-to-cover ratio of 0.2 and effectively 0.0% of shares sold short.
• Institutional buying — multiple hedge funds initiated stakes in CCIX during the period, including Shaolin Capital ($2.104M), Massar Capital ($1.841M), Geode ($784k), JPMorgan ($522k) and Sandia ($473k).
• Analyst stance still negative — the MarketBeat consensus rating remains "Sell" despite Wall Street Zen upgrading CCIX from "Sell" to "Hold" and Weiss reaffirming a "Sell."

Churchill Capital Corp IX (NASDAQ:CCIX - Get Free Report) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totaling 2,563 shares, a decrease of 34.1% from the March 15th total of 3,889 shares. Based on an average daily volume of 13,183 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the company's shares are sold short.

Institutional Trading of Churchill Capital Corp IX

Several hedge funds have recently made changes to their positions in CCIX. Geode Capital Management LLC acquired a new stake in shares of Churchill Capital Corp IX during the second quarter worth about $784,000. JPMorgan Chase & Co. acquired a new stake in shares of Churchill Capital Corp IX during the second quarter worth about $522,000. Shaolin Capital Management LLC acquired a new stake in shares of Churchill Capital Corp IX during the second quarter worth about $2,104,000. Sandia Investment Management LP acquired a new stake in shares of Churchill Capital Corp IX during the second quarter worth about $473,000. Finally, Massar Capital Management LP acquired a new stake in shares of Churchill Capital Corp IX during the second quarter worth about $1,841,000.

Analyst Ratings Changes

Several brokerages have weighed in on CCIX. Wall Street Zen raised shares of Churchill Capital Corp IX from a "sell" rating to a "hold" rating in a research note on Monday, March 16th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Churchill Capital Corp IX in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of "Sell".

Churchill Capital Corp IX Stock Performance

Shares of CCIX opened at $10.81 on Tuesday. The stock has a market capitalization of $396.29 million, a PE ratio of 49.14 and a beta of -0.11. Churchill Capital Corp IX has a 1 year low of $10.45 and a 1 year high of $11.66. The company's 50-day simple moving average is $10.66 and its 200-day simple moving average is $10.65.

Churchill Capital Corp IX (NASDAQ:CCIX - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.07 earnings per share (EPS) for the quarter.

Churchill Capital Corp IX Company Profile

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.

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