Pranav Gokhale Sells 120,000 Shares of Infleqtion (NYSE:INFQ) Stock

Infleqtion (NYSE:INFQ) CTO Pranav Gokhale sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $17.73, for a total transaction of $2,127,600.00. Following the completion of the sale, the chief technology officer owned 2,218,980 shares in the company, valued at approximately $39,342,515.40. The trade was a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Infleqtion Trading Down 14.1%

Shares of INFQ traded down $2.39 during mid-day trading on Friday, reaching $14.56. The company had a trading volume of 19,098,391 shares, compared to its average volume of 8,375,080. Infleqtion has a 1-year low of $8.52 and a 1-year high of $27.50. The company has a market cap of $3.18 billion and a P/E ratio of -161.73.

Infleqtion (NYSE:INFQ) last posted its quarterly earnings results on Tuesday, March 31st. The quantum tech company reported ($0.83) earnings per share for the quarter.

Wall Street Analyst Weigh In

INFQ has been the subject of a number of research reports. BTIG Research initiated coverage on shares of Infleqtion in a report on Friday, April 10th. They issued a “buy” rating and a $22.00 price objective for the company. UBS Group initiated coverage on shares of Infleqtion in a report on Wednesday, April 29th. They issued a “buy” rating for the company. Wall Street Zen upgraded shares of Infleqtion from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Citigroup initiated coverage on shares of Infleqtion in a report on Tuesday, April 14th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Weiss Ratings initiated coverage on shares of Infleqtion in a report on Wednesday, May 27th. They issued a “sell (d)” rating for the company. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.00.

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.