Infleqtion (NYSE:INFQ) Stock Has Average Target Price of $20.43

Shares of Infleqtion (NYSE:INFQ) have been given a consensus rating of “Moderate Buy” by the ten brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $19.57.

Several equities analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Infleqtion in a report on Monday, August 24th. B. Riley Financial cut their price objective on Infleqtion from $23.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday. Morgan Stanley initiated coverage on Infleqtion in a research note on Thursday, October 15th. They set an “equal weight” rating and a $12.00 price objective on the stock. Wall Street Zen raised Infleqtion from a “strong sell” rating to a “sell” rating in a research report on Sunday. Finally, BTIG Research reiterated a “buy” rating and issued a $25.00 target price on shares of Infleqtion in a research note on Friday, September 25th.

Insider Activity at Infleqtion

In related news, Director Maverick Capital Ltd sold 164,824 shares of the firm’s 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 completion of the sale, the director directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 212,751 shares of company stock worth $2,739,429 over the last 90 days.

Hedge Funds Weigh In On Infleqtion

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fulcrum Asset Management LLP bought a new position in Infleqtion during the 3rd quarter valued at $234,000. Kestra Advisory Services LLC acquired a new position in Infleqtion in the third quarter worth about $195,000. Verity Asset Management Inc. grew its stake in Infleqtion by 27.8% in the third quarter. Verity Asset Management Inc. now owns 41,512 shares of the quantum tech company’s stock worth $559,000 after purchasing an additional 9,035 shares in the last quarter. Signature Equity Partners LLC increased its holdings in Infleqtion by 45.5% in the third quarter. Signature Equity Partners LLC now owns 9,427 shares of the quantum tech company’s stock valued at $127,000 after buying an additional 2,949 shares during the last quarter. Finally, Straight Path Wealth Management increased its holdings in Infleqtion by 10.3% in the third quarter. Straight Path Wealth Management now owns 16,000 shares of the quantum tech company’s stock valued at $216,000 after buying an additional 1,500 shares during the last quarter.

Infleqtion Trading Up 1.1%

Shares of Infleqtion stock opened at $8.54 on Thursday. Infleqtion has a twelve month low of $8.05 and a twelve month high of $21.28. The business’s fifty day moving average price is $11.68 and its 200 day moving average price is $12.49.

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 the consensus estimate of ($0.07) by ($0.04). The business had revenue of $13.54 million during the quarter. On average, research analysts predict that Infleqtion will post -0.24 earnings per share for the current fiscal year.

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.