Infleqtion (NYSE:INFQ) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Infleqtion (NYSE:INFQ) has been assigned an average rating of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $21.3333.

Several analysts recently commented on the stock. B Riley initiated coverage on shares of Infleqtion in a research note on Friday. They issued a “buy” rating for the company. Craig Hallum initiated coverage on shares of Infleqtion in a research report on Wednesday, July 22nd. They set a “buy” rating and a $19.00 target price on the stock. Zacks Research raised shares of Infleqtion to a “hold” rating in a report on Monday, June 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Infleqtion in a research report on Monday, August 24th. Finally, B. Riley Financial began coverage on Infleqtion in a report on Friday, September 4th. They issued a “buy” rating and a $23.00 price target on the stock.

Insider Buying and Selling

In other Infleqtion news, Director Maverick Capital Ltd sold 164,824 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $13.02, for a total transaction of $2,146,008.48. Following the sale, the director directly owned 1,381,233 shares in the company, valued at approximately $17,983,653.66. The trade was a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 250,300 shares of company stock worth $3,165,428 in the last quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in INFQ. Bank of New York Mellon Corp grew its stake in Infleqtion by 1,350.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,076,802 shares of the quantum tech company’s stock valued at $14,343,000 after acquiring an additional 1,002,576 shares during the last quarter. S&G Foundation acquired a new position in Infleqtion during the second quarter worth about $154,164,000. Davis Asset Management L.P. purchased a new stake in shares of Infleqtion in the second quarter valued at about $27,783,000. Paragon Capital Management Ltd purchased a new stake in shares of Infleqtion in the second quarter valued at about $1,253,000. Finally, Secure Asset Management LLC acquired a new stake in shares of Infleqtion in the second quarter valued at approximately $847,000.

Infleqtion Price Performance

Shares of INFQ stock opened at $13.70 on Wednesday. The business’s fifty day simple moving average is $11.62. Infleqtion has a 1-year low of $8.52 and a 1-year high of $27.50. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of -91.33 and a beta of 4.33.

Infleqtion (NYSE:INFQ) last released its earnings results on Wednesday, August 12th. The quantum tech company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). The business had revenue of $13.54 million during the quarter. On average, equities research analysts anticipate that Infleqtion will post -0.24 earnings per share for the current year.

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.