Churchill Capital Corp IX (NASDAQ:CCIX) Short Interest Up 155.8% in April

Key Points

• Short interest surged 155.8%, rising to 6,555 shares as of April 15 (from 2,563 on March 31); the short-interest ratio is just 0.1 days and roughly 0.0% of shares are reported shorted.
• Shares trade around $10.76 (50‑ and 200‑day moving averages ≈ $10.68/$10.66) with a market capitalization of about $394.5 million and a high trailing PE of 48.9.
• Several institutions recently built or increased positions in CCIX, but analysts maintain a consensus "Sell" (one upgrade to "Hold" by Wall Street Zen), and the company reported $0.07 EPS for the last quarter.

Churchill Capital Corp IX (NASDAQ:CCIX - Get Free Report) was the target of a large growth in short interest in April. As of April 15th, there was short interest totaling 6,555 shares, a growth of 155.8% from the March 31st total of 2,563 shares. Based on an average trading volume of 60,900 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

Churchill Capital Corp IX Price Performance

Shares of Churchill Capital Corp IX stock opened at $10.76 on Friday. The company's fifty day moving average price is $10.68 and its two-hundred day moving average price is $10.66. Churchill Capital Corp IX has a 52-week low of $10.45 and a 52-week high of $11.66. The firm has a market capitalization of $394.46 million, a PE ratio of 48.91 and a beta of -0.11.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CCIX. Longfellow Investment Management Co. LLC bought a new stake in Churchill Capital Corp IX during the 3rd quarter worth approximately $83,000. Mercuria Capital Strategies LLC bought a new position in Churchill Capital Corp IX in the 4th quarter valued at $93,000. FNY Investment Advisers LLC boosted its stake in Churchill Capital Corp IX by 494.1% in the third quarter. FNY Investment Advisers LLC now owns 14,200 shares of the company's stock worth $148,000 after purchasing an additional 11,810 shares in the last quarter. Lineage Point Capital LP acquired a new position in Churchill Capital Corp IX in the fourth quarter worth $360,000. Finally, Berkley W R Corp grew its holdings in shares of Churchill Capital Corp IX by 46.2% during the third quarter. Berkley W R Corp now owns 39,976 shares of the company's stock worth $419,000 after purchasing an additional 12,631 shares during the last quarter.

Wall Street Analyst Weigh In

CCIX has been the subject of a number of analyst reports. Wall Street Zen upgraded 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 report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Churchill Capital Corp IX currently has a consensus rating of "Sell".

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.

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