Infleqtion (NYSE:INFQ) Short Interest Down 35.8% in May

Infleqtion (NYSE:INFQ) was the recipient of a large drop in short interest in May. As of May 29th, there was short interest totaling 4,004,403 shares, a drop of 35.8% from the May 14th total of 6,238,970 shares. Approximately 1.8% of the company’s stock are short sold. Based on an average daily volume of 32,981,277 shares, the days-to-cover ratio is currently 0.1 days.

Infleqtion Stock Performance

Shares of NYSE INFQ traded up $0.40 during trading on Wednesday, reaching $13.78. 5,050,185 shares of the company traded hands, compared to its average volume of 8,643,079. The company has a fifty day moving average price of $14.25. The firm has a market cap of $3.01 billion and a PE ratio of -153.14. Infleqtion has a 12-month low of $8.52 and a 12-month high of $27.50.

Infleqtion (NYSE:INFQ) last released its quarterly earnings data on Tuesday, March 31st. The quantum tech company reported ($0.83) earnings per share for the quarter.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on INFQ. Citigroup began coverage on Infleqtion in a research note on Tuesday, April 14th. They issued a “buy” rating and a $20.00 target price for the company. Wall Street Zen upgraded Infleqtion from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. BTIG Research began coverage on Infleqtion in a research note on Friday, April 10th. They issued a “buy” rating and a $22.00 target price for the company. UBS Group began coverage on Infleqtion in a research note on Wednesday, April 29th. They issued a “buy” rating for the company. Finally, Weiss Ratings began coverage on Infleqtion in a research note on Wednesday, May 27th. They issued a “sell (d)” rating for the company. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $21.00.

Insider Transactions at Infleqtion

In related news, CTO Pranav Gokhale sold 120,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $17.73, for a total value of $2,127,600.00. Following the completion of the transaction, the chief technology officer owned 2,218,980 shares in the company, valued at $39,342,515.40. This trade represents a 5.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Maverick Capital Ltd sold 1,797,637 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $16.10, for a total value of $28,941,955.70. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 28,161,988 shares of company stock worth $443,111,218.

About Infleqtion

We are a blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.