Gores Holdings X, Inc. / CI (NASDAQ:GTEN) Sees Large Increase in Short Interest

Gores Holdings X, Inc. / CI (NASDAQ:GTEN) was the recipient of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 6,824 shares, an increase of 404.4% from the July 30th total of 1,353 shares. Based on an average trading volume of 139,462 shares, the short-interest ratio is currently 0.0 days. Currently, 0.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Gores Holdings X, Inc. / CI from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Gores Holdings X, Inc. / CI Price Performance

GTEN traded down $0.01 during trading on Wednesday, reaching $10.61. 140,469 shares of the company’s stock were exchanged, compared to its average volume of 65,583. Gores Holdings X, Inc. / CI has a 1 year low of $10.15 and a 1 year high of $10.99. The company’s fifty day simple moving average is $10.51 and its 200-day simple moving average is $10.39. The stock has a market capitalization of $478.25 million, a P/E ratio of 75.78 and a beta of 0.10.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Harraden Circle Investments LLC acquired a new position in Gores Holdings X, Inc. / CI during the fourth quarter valued at $5,556,000. Quarry LP grew its holdings in Gores Holdings X, Inc. / CI by 23.0% in the fourth quarter. Quarry LP now owns 61,632 shares of the company’s stock valued at $632,000 after purchasing an additional 11,506 shares during the period. DLD Asset Management LP purchased a new stake in Gores Holdings X, Inc. / CI in the 4th quarter worth $1,594,000. Westchester Capital Management LLC purchased a new stake in shares of Gores Holdings X, Inc. / CI during the fourth quarter worth about $5,300,000. Finally, Verition Fund Management LLC increased its stake in Gores Holdings X, Inc. / CI by 9.8% during the 4th quarter. Verition Fund Management LLC now owns 779,270 shares of the company’s stock worth $8,019,000 after buying an additional 69,271 shares in the last quarter.

About Gores Holdings X, Inc. / CI

Gores Holdings X, Inc (NASDAQ: GTEN) is a special purpose acquisition company (SPAC) formed to effect a business combination with one or more operating businesses. As a blank?check company, GTEN’s principal activity is to identify, evaluate and complete a merger, asset acquisition, stock purchase, reorganization or similar business combination that would result in a publicly traded combined company.

Prior to completing a business combination, Gores Holdings X does not operate commercial businesses; its operations typically consist of raising capital through an initial public offering, maintaining funds in a trust account, and conducting diligence and negotiations with potential targets.