Churchill Capital Corp IX (NASDAQ:CCIX) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Churchill Capital Corp IX to a sell rating, while Weiss Ratings also reaffirmed a sell-related rating on the stock.
• The shares were flat at $10.88 in Friday trading, with volume below average; the company’s market cap was about $398.9 million and it has traded between $10.45 and $11.32 over the past 52 weeks.
• Churchill Capital Corp IX last reported quarterly earnings of $0.04 per share, and institutional investors recently showed mixed activity, with some adding to positions while others increased their stakes significantly.

Churchill Capital Corp IX (NASDAQ:CCIX - Get Free Report) was upgraded by analysts at Wall Street Zen to a "sell" rating in a report released on Sunday.

Separately, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Churchill Capital Corp IX in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Churchill Capital Corp IX has an average rating of "Sell".

Churchill Capital Corp IX Price Performance

Shares of NASDAQ:CCIX remained flat at $10.88 during midday trading on Friday. The stock had a trading volume of 71,648 shares, compared to its average volume of 221,422. The stock's fifty day simple moving average is $10.82 and its two-hundred day simple moving average is $10.72. Churchill Capital Corp IX has a 52 week low of $10.45 and a 52 week high of $11.32. The company has a market capitalization of $398.86 million, a P/E ratio of 57.27 and a beta of -0.05.

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

Institutional Trading of Churchill Capital Corp IX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new stake in shares of Churchill Capital Corp IX during the first quarter worth approximately $107,000. Berkley W R Corp lifted its stake in shares of Churchill Capital Corp IX by 93.4% in the 1st quarter. Berkley W R Corp now owns 1,810,437 shares of the company's stock valued at $19,335,000 after purchasing an additional 874,256 shares during the period. Lineage Point Capital LP acquired a new position in shares of Churchill Capital Corp IX in the 4th quarter valued at $360,000. TENOR CAPITAL MANAGEMENT Co. L.P. boosted its position in shares of Churchill Capital Corp IX by 88.0% in the 4th quarter. TENOR CAPITAL MANAGEMENT Co. L.P. now owns 2,702,188 shares of the company's stock worth $28,724,000 after purchasing an additional 1,264,688 shares during the last quarter. Finally, Meteora Capital LLC boosted its position in shares of Churchill Capital Corp IX by 42.2% in the 4th quarter. Meteora Capital LLC now owns 949,652 shares of the company's stock worth $10,095,000 after purchasing an additional 281,628 shares during the last 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.

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