Infleqtion (NYSE:INFQ) Stock Rating Lowered by Wall Street Zen

Infleqtion (NYSE:INFQ) was downgraded by investment analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report issued on Saturday.

Other research analysts have also issued research reports about the company. Zacks Research upgraded Infleqtion to a “hold” rating in a research report on Monday, June 29th. Wedbush began coverage on Infleqtion in a research note on Friday, June 26th. They set an “outperform” rating and a $20.00 price objective on the stock. UBS Group assumed coverage on shares of Infleqtion in a research note on Wednesday, April 29th. They set a “buy” rating for the company. Canaccord Genuity Group started coverage on shares of Infleqtion in a report on Thursday, July 2nd. They set a “buy” rating and a $22.00 target price on the stock. Finally, Citigroup began coverage on shares of Infleqtion in a research report on Tuesday, April 14th. They issued a “buy” rating and a $20.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Infleqtion Trading Up 0.2%

Shares of Infleqtion stock opened at $9.11 on Friday. Infleqtion has a 1 year low of $8.52 and a 1 year high of $27.50. The firm has a 50-day moving average of $13.57. The firm has a market cap of $1.99 billion and a price-to-earnings ratio of -101.17.

Infleqtion (NYSE:INFQ) last posted its quarterly earnings results on Tuesday, March 31st. The quantum tech company reported ($0.83) EPS for the quarter. Equities analysts expect that Infleqtion will post -0.47 EPS for the current year.

Insider Buying and Selling

In related news, Director David B. Singer sold 6,369,163 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $14.69, for a total value of $93,563,004.47. Following the sale, the director directly owned 19,761 shares in the company, valued at $290,289.09. This trade represents a 99.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew John Kinsella sold 545,824 shares of Infleqtion stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $17.19, for a total value of $9,382,714.56. Following the sale, the chief executive officer directly owned 545,824 shares in the company, valued at $9,382,714.56. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,161,988 shares of company stock valued at $443,111,218 in the last 90 days.

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.