Infleqtion (NYSE:INFQ) Trading 10.2% Higher – Still a Buy?

Infleqtion (NYSE:INFQ)’s share price rose 10.2% during trading on Monday . The company traded as high as $15.30 and last traded at $14.7840. Approximately 15,409,701 shares were traded during trading, an increase of 79% from the average daily volume of 8,627,696 shares. The stock had previously closed at $13.42.

Wall Street Analyst Weigh In

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

Infleqtion Stock Up 10.2%

The company has a 50 day moving average of $14.26. The stock has a market cap of $3.23 billion and a PE ratio of -164.27.

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

Insider Activity

In related news, Director David B. Singer sold 1,797,637 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $16.10, for a total transaction of $28,941,955.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kristina M. Johnson sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $16.45, for a total transaction of $493,500.00. Following the sale, the director owned 30,000 shares in the company, valued at $493,500. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 28,161,988 shares of company stock valued at $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.