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

Infleqtion (NYSE:INFQ) has earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $20.43.

INFQ has been the subject of several analyst reports. Wedbush started coverage on Infleqtion in a report on Monday, August 3rd. They issued an “outperform” rating and a $20.00 price objective for the company. B. Riley Financial initiated coverage on Infleqtion in a research report on Friday, September 4th. They set a “buy” rating for the company. Weiss Ratings reissued a “sell (d)” rating on shares of Infleqtion in a report on Monday, August 24th. Wall Street Zen cut Infleqtion from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 24th. Finally, Citigroup raised their price target on Infleqtion from $20.00 to $22.00 and gave the stock a “buy” rating in a research report 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 that occurred 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 sale, the director owned 1,381,233 shares in the company, valued at approximately $17,983,653.66. This trade represents a 10.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 250,300 shares of company stock worth $3,165,428.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in INFQ. S&G Foundation acquired a new position in Infleqtion during the second quarter valued at approximately $154,164,000. Davis Asset Management L.P. bought a new stake in Infleqtion during the second quarter worth $27,783,000. Bank of New York Mellon Corp lifted its stake in 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 worth $14,343,000 after purchasing an additional 1,002,576 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in shares of Infleqtion by 42.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,045,860 shares of the quantum tech company’s stock valued at $14,088,000 after purchasing an additional 311,280 shares in the last quarter. Finally, Integrated Advisors Network LLC boosted its holdings in shares of Infleqtion by 58.2% in the 3rd quarter. Integrated Advisors Network LLC now owns 724,335 shares of the quantum tech company’s stock valued at $9,757,000 after purchasing an additional 266,602 shares in the last quarter.

Infleqtion Stock Performance

Shares of NYSE:INFQ opened at $9.61 on Thursday. The stock’s 50 day simple moving average is $12.13. Infleqtion has a 12-month low of $8.38 and a 12-month high of $21.28. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -64.08 and a beta of 4.26.

Infleqtion (NYSE:INFQ) last announced its 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. Analysts forecast 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.