Infleqtion (NYSE:INFQ) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Infleqtion (NYSE:INFQ) from a sell rating to a strong sell rating in a research note issued to investors on Saturday.

A number of other analysts also recently commented on INFQ. BTIG Research assumed coverage on Infleqtion in a research report on Friday, April 10th. They set a “buy” rating and a $22.00 target price on the stock. Citigroup initiated coverage on Infleqtion in a research report on Tuesday, April 14th. They issued a “buy” rating and a $20.00 price target for the company. Zacks Research raised Infleqtion to a “hold” rating in a research note on Monday, June 29th. UBS Group started coverage on shares of Infleqtion in a research report on Wednesday, April 29th. They issued a “buy” rating on the stock. Finally, Weiss Ratings assumed coverage on shares of Infleqtion in a research note on Wednesday, May 27th. They issued a “sell (d)” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Infleqtion currently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Infleqtion Stock Performance

INFQ stock opened at $9.06 on Friday. The firm’s 50 day moving average is $13.49. Infleqtion has a 12-month low of $8.52 and a 12-month high of $27.50. The firm has a market cap of $1.98 billion and a P/E ratio of -100.68.

Infleqtion (NYSE:INFQ) last announced its quarterly earnings results on Tuesday, March 31st. The quantum tech company reported ($0.83) EPS for the quarter. As a group, equities research analysts expect that Infleqtion will post -0.47 earnings per share for the current year.

Insider Activity

In other news, Director Kristina M. Johnson sold 30,000 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $16.45, for a total value of $493,500.00. Following the completion of the transaction, the director directly owned 30,000 shares of the company’s stock, valued at $493,500. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David B. Singer sold 1,797,637 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $16.10, for a total value of $28,941,955.70. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,161,988 shares of company stock worth $443,111,218 in the last quarter.

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.