Churchill Capital Corp X (NASDAQ:CCCX) Shares Up 8.6% – Here’s What Happened

Churchill Capital Corp X (NASDAQ:CCCX) shot up 8.6% on Friday . The company traded as high as $11.82 and last traded at $11.66. 3,888,643 shares changed hands during mid-day trading, an increase of 127% from the average session volume of 1,714,845 shares. The stock had previously closed at $10.74.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Churchill Capital Corp X in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Churchill Capital Corp X Stock Performance

The business’s 50-day moving average is $15.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Group One Trading LLC acquired a new stake in Churchill Capital Corp X in the 3rd quarter valued at about $52,000. Wexford Capital LP acquired a new position in shares of Churchill Capital Corp X during the third quarter worth about $64,000. IFP Advisors Inc purchased a new stake in shares of Churchill Capital Corp X during the third quarter worth approximately $122,000. ATW Spac Management LLC acquired a new stake in Churchill Capital Corp X in the third quarter valued at approximately $129,000. Finally, MGO One Seven LLC acquired a new stake in Churchill Capital Corp X in the third quarter valued at approximately $129,000.

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.