Churchill Capital Corp X (NASDAQ:CCCX) Stock Price Down 6.3% – Time to Sell?

Churchill Capital Corp X (NASDAQ:CCCX) fell 6.3% during mid-day trading on Tuesday . The stock traded as low as $17.17 and last traded at $17.45. 889,281 shares traded hands during trading, a decline of 60% from the average session volume of 2,233,841 shares. The stock had previously closed at $18.62.

Analyst Ratings Changes

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

Churchill Capital Corp X Stock Down 3.0%

The business has a fifty day moving average of $15.72.

Institutional Investors Weigh In On Churchill Capital Corp X

A number of hedge funds have recently made changes to their positions in CCCX. Fort Baker Capital Management LP bought a new position in Churchill Capital Corp X during the third quarter valued at approximately $22,153,000. MMCAP International Inc. SPC purchased a new stake in shares of Churchill Capital Corp X during the 3rd quarter worth approximately $20,317,000. Alberta Investment Management Corp bought a new position in shares of Churchill Capital Corp X during the 3rd quarter valued at approximately $19,290,000. Magnetar Financial LLC bought a new position in shares of Churchill Capital Corp X during the 3rd quarter valued at approximately $18,675,000. Finally, Highbridge Capital Management LLC purchased a new position in shares of Churchill Capital Corp X in the third quarter valued at $17,797,000.

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.