Infleqtion (NYSE:INFQ) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Infleqtion (NYSE:INFQ) from a strong sell rating to a sell rating in a report released on Sunday,Wall Street Zen reports.

Other research analysts also recently issued research reports about the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Infleqtion in a research note on Monday, August 24th. B. Riley Financial began coverage on Infleqtion in a research report on Friday, September 4th. They set a “buy” rating on the stock. Morgan Stanley began coverage on Infleqtion in a research note on Thursday, October 15th. They set an “equal weight” rating and a $12.00 price objective for the company. Wedbush assumed coverage on shares of Infleqtion in a report on Monday, August 3rd. They issued an “outperform” rating and a $20.00 target price for the company. Finally, BTIG Research reissued a “buy” rating and issued a $25.00 target price on shares of Infleqtion in a report on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.57.

Infleqtion Stock Performance

Shares of Infleqtion stock opened at $8.43 on Friday. Infleqtion has a one year low of $8.05 and a one year high of $21.28. The stock’s fifty day moving average is $11.79 and its 200 day moving average is $12.51. The stock has a market cap of $1.90 billion, a P/E ratio of -56.17 and a beta of 4.64.

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

Insider Buying and Selling at Infleqtion

In related news, Director Maverick Capital Ltd sold 164,824 shares of Infleqtion stock in a transaction on 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 transaction, the director owned 1,381,233 shares in the company, valued at approximately $17,983,653.66. The trade was a 10.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 220,808 shares of company stock worth $2,828,781.

Institutional Investors Weigh In On Infleqtion

A number of institutional investors have recently bought and sold shares of the business. Sterling Capital Management LLC boosted its stake in shares of Infleqtion by 116.2% in the third quarter. Sterling Capital Management LLC now owns 2,908 shares of the quantum tech company’s stock worth $39,000 after acquiring an additional 1,563 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Infleqtion during the second quarter worth about $41,000. NewEdge Advisors LLC bought a new stake in Infleqtion during the 2nd quarter valued at approximately $56,000. Signature Equity Partners LLC raised its stake in Infleqtion by 45.5% during the 3rd quarter. Signature Equity Partners LLC now owns 9,427 shares of the quantum tech company’s stock valued at $127,000 after purchasing an additional 2,949 shares during the period. Finally, Arizona State Retirement System bought a new stake in Infleqtion during the 2nd quarter valued at approximately $183,000.

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.