Churchill Capital Corp X (NASDAQ:CCCX) Shares Gap Up – Time to Buy?

Shares of Churchill Capital Corp X (NASDAQ:CCCX) gapped up before the market opened on Wednesday . The stock had previously closed at $17.27, but opened at $17.99. Churchill Capital Corp X shares last traded at $17.70, with a volume of 687,049 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Churchill Capital Corp X in a research report on Monday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Churchill Capital Corp X Stock Performance

The company’s 50 day simple moving average is $15.94.

Hedge Funds Weigh In On Churchill Capital Corp X

Institutional investors have recently modified their holdings of the stock. Fort Baker Capital Management LP bought a new stake in shares of Churchill Capital Corp X during the third quarter valued at approximately $22,153,000. MMCAP International Inc. SPC purchased a new position in Churchill Capital Corp X during the 3rd quarter worth $20,317,000. Alberta Investment Management Corp bought a new stake in Churchill Capital Corp X during the 3rd quarter valued at $19,290,000. Magnetar Financial LLC bought a new stake in Churchill Capital Corp X during the 3rd quarter valued at $18,675,000. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Churchill Capital Corp X in the 3rd quarter worth $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.