Infleqtion (NYSE:INFQ) Sets New 1-Year Low – What’s Next?

Infleqtion (NYSE:INFQ) shares hit a new 52-week low during mid-day trading on Friday. The stock traded as low as $8.42 and last traded at $8.5350, with a volume of 9,312,392 shares traded. The stock had previously closed at $9.48.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on INFQ. B. Riley Financial started coverage on shares of Infleqtion in a research note on Friday, September 4th. They set a “buy” rating for the company. Craig Hallum initiated coverage on shares of Infleqtion in a report on Wednesday, July 22nd. They set a “buy” rating and a $19.00 price target on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Infleqtion in a research report on Monday, August 24th. Wedbush started coverage on Infleqtion in a report on Monday, August 3rd. They set an “outperform” rating and a $20.00 price target on the stock. Finally, Canaccord Genuity Group started coverage on shares of Infleqtion in a research report on Thursday, July 2nd. They issued a “buy” rating and a $22.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Infleqtion currently has an average rating of “Moderate Buy” and an average target price of $20.43.

Infleqtion Stock Performance

The stock’s 50 day simple moving average is $12.69. The firm has a market capitalization of $1.93 billion, a P/E ratio of -56.97 and a beta of 4.26.

Infleqtion (NYSE:INFQ) last announced its quarterly 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 company had revenue of $13.54 million for the quarter. As a group, equities research analysts predict that Infleqtion will post -0.24 EPS for the current fiscal year.

Insider Activity

In related news, Director Maverick Capital Ltd sold 164,824 shares of Infleqtion stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $13.02, for a total transaction of $2,146,008.48. Following the completion of the transaction, the director directly owned 1,381,233 shares of the company’s stock, valued at approximately $17,983,653.66. The trade was a 10.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 250,300 shares of company stock valued at $3,165,428.

Hedge Funds Weigh In On Infleqtion

A number of large investors have recently bought and sold shares of INFQ. Integrated Wealth Concepts LLC purchased a new stake in shares of Infleqtion during the second quarter valued at $41,000. NewEdge Advisors LLC purchased a new position in Infleqtion during the second quarter valued at approximately $56,000. Arizona State Retirement System purchased a new position in shares of Infleqtion in the 2nd quarter valued at $183,000. Straight Path Wealth Management bought a new position in Infleqtion in the second quarter worth about $193,000. Finally, Investor s Fiduciary Advisor Network LLC bought a new position in shares of Infleqtion during the 2nd quarter worth approximately $194,000.

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.