Churchill Capital Corp IX (NASDAQ:CCIX) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of Churchill Capital Corp IX (NASDAQ:CCIX) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.72 and traded as high as $10.92. Churchill Capital Corp IX shares last traded at $10.90, with a volume of 492,586 shares.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Churchill Capital Corp IX in a research report on Wednesday, May 6th. 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. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Churchill Capital Corp IX Trading Down 0.4%

The firm has a market capitalization of $399.59 million, a P/E ratio of 57.37 and a beta of -0.05. The business has a 50-day moving average of $10.82 and a 200 day moving average of $10.72.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mercuria Capital Strategies LLC bought a new position in shares of Churchill Capital Corp IX in the fourth quarter valued at $93,000. Bank of America Corp DE acquired a new stake in shares of Churchill Capital Corp IX in the 1st quarter worth about $107,000. FNY Investment Advisers LLC raised its holdings in shares of Churchill Capital Corp IX by 494.1% in the 3rd quarter. FNY Investment Advisers LLC now owns 14,200 shares of the company’s stock worth $148,000 after acquiring an additional 11,810 shares during the last quarter. Lineage Point Capital LP bought a new position in Churchill Capital Corp IX in the 4th quarter valued at about $360,000. Finally, Berkley W R Corp boosted its stake in Churchill Capital Corp IX by 46.2% during the 3rd quarter. Berkley W R Corp now owns 39,976 shares of the company’s stock valued at $419,000 after purchasing an additional 12,631 shares during the last quarter.

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.