Churchill Capital Corp X (NASDAQ:CCCX) Trading Down 6.3% – Should You Sell?

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

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Churchill Capital Corp X in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Churchill Capital Corp X has a consensus rating of “Sell”.

Churchill Capital Corp X Price Performance

The firm has a 50 day simple moving average of $15.72.

Institutional Trading of Churchill Capital Corp X

A number of large investors have recently made changes to their positions in the stock. Gabelli Funds LLC purchased a new position in shares of Churchill Capital Corp X in the 3rd quarter worth $1,055,000. Magnetar Financial LLC purchased a new position in Churchill Capital Corp X in the third quarter worth about $18,675,000. Jefferies Financial Group Inc. purchased a new position in Churchill Capital Corp X in the third quarter worth about $2,443,000. DLD Asset Management LP purchased a new stake in shares of Churchill Capital Corp X during the 3rd quarter valued at about $2,701,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Churchill Capital Corp X during the 3rd quarter valued at about $1,227,000.

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.