Infleqtion (NYSE:INFQ) Stock Rating Upgraded by Wall Street Zen

Infleqtion (NYSE:INFQ) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday.

INFQ has been the subject of several other reports. Weiss Ratings initiated coverage on shares of Infleqtion in a research report on Wednesday, May 27th. They set a “sell (d)” rating for the company. Wedbush started coverage on shares of Infleqtion in a research report on Monday, August 3rd. They issued an “outperform” rating and a $20.00 price target on the stock. Zacks Research upgraded shares of Infleqtion to a “hold” rating in a research note on Monday, June 29th. Canaccord Genuity Group started coverage on shares of Infleqtion in a research report on Thursday, July 2nd. They set a “buy” rating and a $22.00 price objective for the company. Finally, UBS Group started coverage on Infleqtion in a research note on Wednesday, April 29th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Infleqtion Price Performance

Shares of NYSE:INFQ opened at $14.08 on Friday. The stock has a 50-day moving average price of $11.78. The stock has a market capitalization of $3.07 billion and a PE ratio of -93.87. Infleqtion has a 52-week low of $8.52 and a 52-week high of $27.50.

Infleqtion (NYSE:INFQ) last released 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 firm had revenue of $13.54 million for the quarter. As a group, equities analysts forecast that Infleqtion will post -0.24 earnings per share for the current year.

Insider Activity at Infleqtion

In other Infleqtion news, CRO Paul Lipman sold 100,000 shares of Infleqtion stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $15.83, for a total transaction of $1,583,000.00. Following the transaction, the executive owned 100,000 shares of the company’s stock, valued at $1,583,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Pranav Gokhale sold 120,000 shares of Infleqtion 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 transaction, the chief technology officer directly owned 2,218,980 shares in the company, valued at $39,342,515.40. This represents a 5.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 4,227,639 shares of company stock worth $67,357,171 in the last quarter.

Institutional Trading of Infleqtion

Several institutional investors and hedge funds have recently modified their holdings of the company. S&G Foundation purchased a new position in shares of Infleqtion during the 2nd quarter valued at $154,164,000. Davis Asset Management L.P. bought a new position in Infleqtion in the 2nd quarter worth $27,783,000. Bank of New York Mellon Corp boosted its holdings in Infleqtion by 1,350.7% in the 2nd 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 buying an additional 1,002,576 shares during the period. Wellington Management Group LLP purchased a new stake in Infleqtion in the 2nd quarter worth $3,708,000. Finally, Secure Asset Management LLC purchased a new stake in Infleqtion in the 2nd quarter worth $847,000.

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.