Infleqtion (NYSE:INFQ) Sees Large Increase in Short Interest

Infleqtion (NYSE:INFQ) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 8,225,824 shares, an increase of 105.4% from the May 31st total of 4,004,403 shares. Based on an average daily volume of 18,244,151 shares, the short-interest ratio is presently 0.5 days. Currently, 3.8% of the company’s shares are short sold.

Insider Activity

In related news, Director Maverick Capital Ltd sold 6,584,519 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $14.69, for a total transaction of $96,726,584.11. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Pranav Gokhale sold 120,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $17.73, for a total transaction of $2,127,600.00. Following the completion of the sale, the chief technology officer directly owned 2,218,980 shares in the company, valued at $39,342,515.40. This trade represents a 5.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 28,161,988 shares of company stock valued at $443,111,218 in the last quarter.

Infleqtion Trading Up 10.3%

Shares of NYSE:INFQ opened at $14.26 on Thursday. The stock has a market capitalization of $3.11 billion and a price-to-earnings ratio of -156.70. The stock’s 50 day moving average is $14.08. 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 results on Tuesday, March 31st. The quantum tech company reported ($0.83) earnings per share for the quarter. On average, sell-side analysts expect that Infleqtion will post -0.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on INFQ shares. Citigroup started coverage on Infleqtion in a report on Tuesday, April 14th. They issued a “buy” rating and a $20.00 price target on the stock. Zacks Research raised Infleqtion to a “hold” rating in a research report on Monday. Wall Street Zen raised Infleqtion from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. UBS Group assumed coverage on Infleqtion in a research note on Wednesday, April 29th. They issued a “buy” rating on the stock. Finally, Weiss Ratings began coverage on shares of Infleqtion in a research note on Wednesday, May 27th. They set a “sell (d)” rating for the company. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

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.