Churchill Capital Corp X (NASDAQ:CCCX) Shares Gap Down – Time to Sell?

Shares of Churchill Capital Corp X (NASDAQ:CCCX) gapped down before the market opened on Monday . The stock had previously closed at $17.52, but opened at $16.28. Churchill Capital Corp X shares last traded at $17.08, with a volume of 511,272 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Churchill Capital Corp X in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Churchill Capital Corp X currently has an average rating of “Sell”.

Churchill Capital Corp X Trading Down 6.6%

The firm has a 50-day moving average price of $16.05.

Institutional Investors Weigh In On Churchill Capital Corp X

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Fort Baker Capital Management LP acquired a new position in Churchill Capital Corp X in the 3rd quarter worth approximately $22,153,000. MMCAP International Inc. SPC bought a new position in shares of Churchill Capital Corp X during the 3rd quarter worth about $20,317,000. Alberta Investment Management Corp bought a new stake in Churchill Capital Corp X in the 3rd quarter valued at $19,290,000. Magnetar Financial LLC acquired a new position in shares of Churchill Capital Corp X in the 3rd quarter valued at $18,675,000. Finally, Highbridge Capital Management LLC bought a new position in shares of Churchill Capital Corp X during the 3rd quarter worth about $17,797,000.

About Churchill Capital Corp X

Churchill Capital Corp X (NASDAQ: CCCX) is a special purpose acquisition company (SPAC), commonly referred to as a blank‑check company, formed to raise capital through an initial public offering for the purpose of effecting one or more business combinations. As a SPAC, it initially holds the proceeds from its public offering in a trust account while management and the sponsor identify and negotiate a potential merger, acquisition, or other qualifying business combination that would result in the acquired company becoming publicly listed.

The company’s primary activities are sourcing, evaluating and completing a business combination with a target company.