Infleqtion (NYSE:INFQ) Stock Has Consensus Price Target of $21.83 According to Brokerages

Shares of Infleqtion (NYSE:INFQ) have been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $21.83.

Several research analysts recently issued reports on the stock. Wedbush initiated coverage on shares of Infleqtion in a research note on Monday, August 3rd. They set an “outperform” rating and a $20.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Infleqtion in a research note on Monday, August 24th. Canaccord Genuity Group began coverage on shares of Infleqtion in a report on Thursday, July 2nd. They set a “buy” rating and a $22.00 price objective on the stock. Craig Hallum assumed coverage on shares of Infleqtion in a research report on Wednesday, July 22nd. They set a “buy” rating and a $19.00 price objective on the stock. Finally, Citigroup raised their target price on Infleqtion from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, August 21st.

Insider Buying and Selling at Infleqtion

In related news, Director Maverick Capital Ltd sold 164,824 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $13.02, for a total value of $2,146,008.48. Following the transaction, the director directly owned 1,381,233 shares in the company, valued at $17,983,653.66. This trade represents a 10.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 250,300 shares of company stock worth $3,165,428 over the last quarter.

Institutional Investors Weigh In On Infleqtion

Several hedge funds and other institutional investors have recently made changes to their positions in the business. S&G Foundation bought a new position in shares of Infleqtion in the second quarter valued at approximately $154,164,000. Davis Asset Management L.P. bought a new position in shares of Infleqtion in the second quarter valued at approximately $27,783,000. Bank of New York Mellon Corp increased its position in shares of Infleqtion by 1,350.7% during the second quarter. Bank of New York Mellon Corp now owns 1,076,802 shares of the quantum tech company’s stock valued at $14,343,000 after acquiring an additional 1,002,576 shares during the last quarter. Wellington Management Group LLP bought a new stake in Infleqtion during the second quarter worth $3,708,000. Finally, Baird Financial Group Inc. bought a new stake in Infleqtion during the second quarter worth $2,435,000.

Infleqtion Price Performance

Shares of INFQ stock opened at $11.19 on Friday. The company has a market capitalization of $2.52 billion, a PE ratio of -74.58 and a beta of 4.26. The firm has a 50 day moving average of $12.84. Infleqtion has a one year low of $8.52 and a one year high of $27.50.

Infleqtion (NYSE:INFQ) last posted its quarterly earnings data on Wednesday, August 12th. The quantum tech company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). The firm had revenue of $13.54 million for the quarter. Sell-side analysts predict that Infleqtion will post -0.23 earnings per share for the current 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.