Short Interest in Churchill Capital Corp IX (NASDAQ:CCIX) Decreases By 73.0%

Churchill Capital Corp IX (NASDAQ:CCIX) was the target of a large decline in short interest in May. As of May 15th, there was short interest totaling 2,834 shares, a decline of 73.0% from the April 30th total of 10,480 shares. Based on an average daily volume of 81,731 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the shares of the company are sold short.

Hedge Funds Weigh In On Churchill Capital Corp IX

Several hedge funds and other institutional investors have recently made changes to their positions in CCIX. TENOR CAPITAL MANAGEMENT Co. L.P. raised 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 valued at $28,724,000 after buying an additional 1,264,688 shares in the last quarter. Berkley W R Corp raised its position in shares of Churchill Capital Corp IX by 2,241.9% in the 4th quarter. Berkley W R Corp now owns 936,181 shares of the company’s stock valued at $9,952,000 after buying an additional 896,205 shares in the last quarter. Crossingbridge Advisors LLC acquired a new position in shares of Churchill Capital Corp IX in the 4th quarter valued at approximately $4,774,000. Meteora Capital LLC raised its position in shares of Churchill Capital Corp IX by 105.7% in the 3rd quarter. Meteora Capital LLC now owns 668,024 shares of the company’s stock valued at $7,001,000 after buying an additional 343,339 shares in the last quarter. Finally, Verbena Value LP acquired a new position in shares of Churchill Capital Corp IX in the 4th quarter valued at approximately $2,986,000.

Churchill Capital Corp IX Price Performance

Shares of NASDAQ:CCIX remained flat at $10.81 during midday trading on Friday. 349,149 shares of the stock traded hands, compared to its average volume of 48,388. The stock has a fifty day moving average price of $10.75 and a 200-day moving average price of $10.68. The company has a market capitalization of $396.29 million, a P/E ratio of 56.89 and a beta of -0.05. Churchill Capital Corp IX has a one year low of $10.45 and a one year high of $11.40.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CCIX. Wall Street Zen upgraded shares of Churchill Capital Corp IX from a “sell” rating to a “hold” rating in a research report on Monday, March 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Churchill Capital Corp IX in a research report on Wednesday, May 6th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock 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.