Infleqtion (NYSE:INFQ) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Infleqtion (NYSE:INFQ) to a hold rating in a research note published on Monday morning,Zacks.com reports.

Other equities research analysts have also issued reports about the company. UBS Group began coverage on Infleqtion in a research report on Wednesday, April 29th. They set a “buy” rating for the company. BTIG Research started coverage on shares of Infleqtion in a research report on Friday, April 10th. They issued a “buy” rating and a $22.00 price target for the company. Wedbush started coverage on shares of Infleqtion in a report on Friday. They set an “outperform” rating and a $20.00 price target for the company. Weiss Ratings started coverage on shares of Infleqtion in a research report on Wednesday, May 27th. They set a “sell (d)” rating on the stock. Finally, Wall Street Zen upgraded shares of Infleqtion from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.67.

Infleqtion Price Performance

INFQ opened at $13.32 on Monday. The firm has a fifty day simple moving average of $14.14. The stock has a market capitalization of $2.91 billion and a price-to-earnings ratio of -147.99. Infleqtion has a 12-month low of $8.52 and a 12-month high of $27.50.

Infleqtion (NYSE:INFQ) last issued its quarterly earnings results on Tuesday, March 31st. The quantum tech company reported ($0.83) earnings per share for the quarter. On average, equities analysts expect that Infleqtion will post -0.47 earnings per share for the current year.

Insider Buying and Selling at Infleqtion

In other news, Director David B. Singer sold 6,369,163 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $14.69, for a total transaction of $93,563,004.47. Following the transaction, the director owned 19,761 shares in the company, valued at approximately $290,289.09. This trade represents a 99.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew John Kinsella sold 545,824 shares of Infleqtion stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $17.19, for a total transaction of $9,382,714.56. Following the completion of the sale, the chief executive officer directly owned 545,824 shares of the company’s stock, valued at approximately $9,382,714.56. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 28,161,988 shares of company stock worth $443,111,218 in the last ninety days.

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.