Infleqtion (NYSE:INFQ) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen cut shares of Infleqtion (NYSE:INFQ) from a sell rating to a strong sell rating in a report issued on Monday morning,Wall Street Zen reports.

A number of other equities research analysts also recently commented on INFQ. Citigroup lifted their target price on shares of Infleqtion from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. Wedbush started coverage on shares of Infleqtion in a research note on Monday, August 3rd. They set an “outperform” rating and a $20.00 target price for the company. BTIG Research reissued a “buy” rating and set a $25.00 price target on shares of Infleqtion in a report on Friday, September 25th. Craig Hallum started coverage on Infleqtion in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $19.00 price target on the stock. Finally, B. Riley Financial cut their price objective on Infleqtion from $23.00 to $17.00 and set a “buy” rating for the company in a report on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.57.

Infleqtion Trading Up 0.6%

Shares of INFQ stock opened at $9.40 on Monday. The company has a 50 day moving average price of $11.25 and a 200-day moving average price of $12.37. Infleqtion has a 52 week low of $7.01 and a 52 week high of $21.28.

Infleqtion (NYSE:INFQ) last issued its quarterly earnings data on Wednesday, August 12th. The quantum tech company reported ($0.11) earnings per share 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, sell-side analysts anticipate that Infleqtion will post -0.45 EPS for the current year.

Insider Buying and Selling at Infleqtion

In related news, Director Maverick Capital Ltd sold 164,824 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $13.02, for a total value of $2,146,008.48. Following the transaction, the director owned 1,381,233 shares of the company’s stock, valued at approximately $17,983,653.66. This trade represents a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Trading of Infleqtion

Several large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in Infleqtion by 1,350.7% in the second quarter. Bank of New York Mellon Corp now owns 1,076,802 shares of the quantum tech company’s stock worth $14,343,000 after acquiring an additional 1,002,576 shares during the period. S&G Foundation purchased a new position in shares of Infleqtion during the 2nd quarter worth $154,164,000. Baird Financial Group Inc. purchased a new position in shares of Infleqtion during the 2nd quarter worth $2,435,000. Integrated Advisors Network LLC boosted its stake in shares of Infleqtion by 58.2% during the 3rd quarter. Integrated Advisors Network LLC now owns 724,335 shares of the quantum tech company’s stock worth $9,757,000 after acquiring an additional 266,602 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Infleqtion during the 2nd quarter valued at $3,708,000.

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.