Zacks Research Upgrades Infleqtion (NYSE:INFQ) to “Hold”

Infleqtion (NYSE:INFQ) was upgraded by research analysts at Zacks Research to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Infleqtion from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. UBS Group started coverage on Infleqtion in a research note on Wednesday, April 29th. They issued a “buy” rating on the stock. BTIG Research initiated coverage on Infleqtion in a research report on Friday, April 10th. They set a “buy” rating and a $22.00 target price for the company. Weiss Ratings began coverage on Infleqtion in a research note on Wednesday, May 27th. They issued a “sell (d)” rating for the company. Finally, Wedbush began coverage on shares of Infleqtion in a research report on Friday. They issued an “outperform” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Infleqtion currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

Infleqtion Stock Down 3.6%

Shares of Infleqtion stock opened at $13.32 on Monday. The firm has a market cap of $2.91 billion and a PE ratio of -147.99. Infleqtion has a 12-month low of $8.52 and a 12-month high of $27.50. The stock’s 50-day moving average price is $14.14.

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

Insider Activity at Infleqtion

In related news, Director Maverick Capital Ltd sold 6,584,519 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $14.69, for a total transaction of $96,726,584.11. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David B. Singer sold 6,369,163 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $14.69, for a total transaction of $93,563,004.47. Following the completion of the sale, the director directly owned 19,761 shares in the company, valued at $290,289.09. This represents a 99.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders 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.