Churchill Capital Corp IX (NASDAQ:CCIX) Stock Crosses Above 200 Day Moving Average – Here’s Why

Churchill Capital Corp IX (NASDAQ:CCIX)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.70 and traded as high as $10.95. Churchill Capital Corp IX shares last traded at $10.90, with a volume of 760,281 shares.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Churchill Capital Corp IX in a research note on Wednesday, May 6th. Wall Street Zen upgraded Churchill Capital Corp IX from a “sell” rating to a “hold” rating in a research report on Monday, March 16th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Churchill Capital Corp IX Trading Up 0.3%

The stock’s 50-day simple moving average is $10.80 and its 200-day simple moving average is $10.70. The stock has a market cap of $399.59 million, a price-to-earnings ratio of 57.37 and a beta of -0.05.

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

Hedge Funds Weigh In On Churchill Capital Corp IX

A number of hedge funds have recently added to or reduced their stakes in the stock. BCK Capital Management LP raised its holdings in Churchill Capital Corp IX by 177.6% in the 4th quarter. BCK Capital Management LP now owns 380,000 shares of the company’s stock valued at $4,039,000 after acquiring an additional 243,115 shares in the last quarter. Wolverine Asset Management LLC grew its holdings in shares of Churchill Capital Corp IX by 750.4% during the 4th quarter. Wolverine Asset Management LLC now owns 97,800 shares of the company’s stock worth $1,040,000 after purchasing an additional 86,300 shares in the last quarter. FNY Investment Advisers LLC increased its position in shares of Churchill Capital Corp IX by 301.0% in the fourth quarter. FNY Investment Advisers LLC now owns 56,940 shares of the company’s stock worth $605,000 after purchasing an additional 42,740 shares during the period. Clear Street Group Inc. bought a new position in shares of Churchill Capital Corp IX in the third quarter worth $2,619,000. Finally, Berkley W R Corp increased its position in shares of Churchill Capital Corp IX by 46.2% in the third quarter. Berkley W R Corp now owns 39,976 shares of the company’s stock worth $419,000 after purchasing an additional 12,631 shares during the period.

Churchill Capital Corp IX Company Profile

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.