Churchill Capital Corp X (NASDAQ:CCCX) Stock Price Up 8.6% – Should You Buy?

Churchill Capital Corp X (NASDAQ:CCCX) shares rose 8.6% during mid-day trading on Friday . The company traded as high as $11.82 and last traded at $11.66. Approximately 3,888,643 shares changed hands during mid-day trading, an increase of 127% from the average daily volume of 1,714,845 shares. The stock had previously closed at $10.74.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated 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, According to data from MarketBeat, Churchill Capital Corp X has a consensus rating of “Sell”.

Churchill Capital Corp X Price Performance

The firm’s 50 day simple moving average is $15.75.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Group One Trading LLC purchased a new stake in shares of Churchill Capital Corp X in the 3rd quarter valued at approximately $52,000. Wexford Capital LP purchased a new position in shares of Churchill Capital Corp X during the 3rd quarter worth approximately $64,000. IFP Advisors Inc acquired a new stake in Churchill Capital Corp X in the 3rd quarter valued at approximately $122,000. ATW Spac Management LLC purchased a new stake in Churchill Capital Corp X in the third quarter valued at approximately $129,000. Finally, MGO One Seven LLC acquired a new position in Churchill Capital Corp X during the third quarter worth $129,000.

Churchill Capital Corp X Company Profile

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.