Infleqtion (NYSE:INFQ) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Infleqtion (NYSE:INFQ) from a strong sell rating to a sell rating in a research report released on Saturday.

Several other brokerages have also issued reports on INFQ. Craig Hallum initiated coverage on Infleqtion in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $19.00 price target on the stock. Citigroup raised their price objective on shares of Infleqtion from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday. Wedbush initiated coverage on shares of Infleqtion in a research note on Monday, August 3rd. They issued an “outperform” rating and a $20.00 price objective for the company. Weiss Ratings assumed coverage on shares of Infleqtion in a research report on Wednesday, May 27th. They set a “sell (d)” rating on the stock. Finally, Canaccord Genuity Group began coverage on shares of Infleqtion in a research report on Thursday, July 2nd. They set a “buy” rating and a $22.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $21.00.

Infleqtion Trading Down 7.3%

INFQ stock opened at $13.08 on Friday. The firm has a market capitalization of $2.85 billion and a price-to-earnings ratio of -87.22. Infleqtion has a 12-month low of $8.52 and a 12-month high of $27.50. The firm has a fifty day moving average price of $11.75.

Infleqtion (NYSE:INFQ) last announced its quarterly earnings data on Wednesday, August 12th. The quantum tech company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). The firm had revenue of $13.54 million during the quarter. Equities analysts anticipate that Infleqtion will post -0.24 earnings per share for the current year.

Insider Transactions at Infleqtion

In other news, Director Maverick Capital Ltd sold 1,797,637 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $16.10, for a total transaction of $28,941,955.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Pranav Gokhale sold 120,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief technology officer directly owned 2,218,980 shares in the company, valued at $39,342,515.40. The trade was a 5.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,015,574 shares of company stock valued at $64,030,439 in the last 90 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. S&G Foundation bought a new position in shares of Infleqtion in the second quarter valued at $154,164,000. Davis Asset Management L.P. acquired a new stake in shares of Infleqtion in the 2nd quarter worth about $27,783,000. Bank of New York Mellon Corp lifted its position in Infleqtion by 1,350.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,076,802 shares of the quantum tech company’s stock valued at $14,343,000 after acquiring an additional 1,002,576 shares in the last quarter. California State Teachers Retirement System acquired a new position in Infleqtion during the 2nd quarter valued at about $10,115,000. Finally, Wellington Management Group LLP bought a new stake in Infleqtion during the 2nd quarter worth approximately $3,708,000.

Infleqtion Company Profile

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.