Wedbush Reaffirms “Outperform” Rating for Infleqtion (NYSE:INFQ)

Infleqtion (NYSE:INFQ)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a research note issued to investors on Monday,Benzinga reports. They presently have a $20.00 target price on the quantum tech company’s stock. Wedbush’s target price would suggest a potential upside of 94.48% from the stock’s previous close.

INFQ has been the topic of several other reports. Craig Hallum initiated coverage on shares of Infleqtion in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $19.00 price objective on the stock. Zacks Research raised shares of Infleqtion to a “hold” rating in a report on Monday, June 29th. Wall Street Zen lowered Infleqtion from a “sell” rating to a “strong sell” rating in a report on Saturday, July 18th. Canaccord Genuity Group started coverage on Infleqtion in a research note on Thursday, July 2nd. They set a “buy” rating and a $22.00 target price for the company. Finally, BTIG Research initiated coverage on Infleqtion in a report on Friday, April 10th. They set a “buy” rating and a $22.00 price objective on the stock. One 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 given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.60.

Infleqtion Stock Up 4.6%

NYSE:INFQ opened at $10.28 on Monday. Infleqtion has a 52 week low of $8.52 and a 52 week high of $27.50. The stock’s fifty day moving average price is $12.89. The firm has a market capitalization of $2.24 billion and a PE ratio of -113.90.

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

Insider Buying and Selling at Infleqtion

In related news, Director Maverick Capital Ltd 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. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Paul Lipman sold 100,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $15.83, for a total transaction of $1,583,000.00. Following the transaction, the executive directly owned 100,000 shares of the company’s stock, valued at approximately $1,583,000. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, 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.