Gores Holdings X, Inc. / CI (NASDAQ:GTEN) Shares Shorted: Short Interest Down 79.5% in September

Key Points

• Short interest plunged 79.5% in September to 1,418 shares from 6,904 shares, representing just 0.0% of GTEN’s outstanding stock and 0.7 days to cover.
• GTEN shares opened at $10.49, with a market capitalization of approximately $472.9 million; the stock has traded between $10.19 and $10.99 over the past year.
• Several institutional investors acquired or increased positions, but analyst sentiment remains negative: GTEN has a consensus “Sell” rating from one covering analyst.

Gores Holdings X, Inc. / CI (NASDAQ:GTEN - Get Free Report) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 1,418 shares, a drop of 79.5% from the August 31st total of 6,904 shares. Based on an average daily trading volume, of 2,064 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.0% of the company's stock are short sold.

Gores Holdings X, Inc. / CI Price Performance

Shares of GTEN opened at $10.49 on Friday. The company has a market cap of $472.89 million, a PE ratio of 74.93 and a beta of 0.11. The firm has a 50-day moving average of $10.55 and a 200-day moving average of $10.42. Gores Holdings X, Inc. / CI has a one year low of $10.19 and a one year high of $10.99.

Hedge Funds Weigh In On Gores Holdings X, Inc. / CI

A number of hedge funds and other institutional investors have recently bought and sold shares of GTEN. SkyView Investment Advisors LLC acquired a new position in Gores Holdings X, Inc. / CI during the second quarter worth approximately $1,565,000. Harraden Circle Investments LLC acquired a new stake in shares of Gores Holdings X, Inc. / CI in the second quarter valued at approximately $657,000. Lineage Point Capital LP boosted its stake in shares of Gores Holdings X, Inc. / CI by 5.9% during the 2nd quarter. Lineage Point Capital LP now owns 270,329 shares of the company's stock worth $2,820,000 after acquiring an additional 15,000 shares during the period. Sona Asset Management US LLC bought a new position in shares of Gores Holdings X, Inc. / CI during the 1st quarter worth approximately $1,631,000. Finally, DLD Asset Management LP increased its holdings in shares of Gores Holdings X, Inc. / CI by 6.5% during the 1st quarter. DLD Asset Management LP now owns 165,559 shares of the company's stock worth $1,695,000 after acquiring an additional 10,058 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Gores Holdings X, Inc. / CI from a "sell (d-)" rating to a "sell (d)" rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of "Sell".

Gores Holdings X, Inc. / CI Company Profile

Gores Holdings X, Inc is a special purpose acquisition company (SPAC) formed to identify and combine with one or more businesses through a merger, stock purchase, or similar transaction. Unlike an operating company, it does not have an established line of products or services and generally has no commercial operations before completing a business combination.

The company was sponsored by an affiliate of The Gores Group, an investment firm founded by Alec Gores. Its acquisition strategy was not limited to a specific industry or geography, allowing it to evaluate potential targets in a range of sectors and markets.

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