Infleqtion (NYSE:INFQ) Stock Rating Raised to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Infleqtion (NYSE:INFQ) from a strong sell rating to a sell rating in a research report sent to investors on Sunday,Wall Street Zen reports.

Several other analysts have also commented on the stock. Morgan Stanley started coverage on shares of Infleqtion in a report on Thursday, October 15th. They issued an “equal weight” rating and a $12.00 price objective for the company. B. Riley Financial started coverage on shares of Infleqtion in a research report on Friday, September 4th. They issued a “buy” rating for the company. Wedbush initiated coverage on shares of Infleqtion in a report on Monday, August 3rd. They set an “outperform” rating and a $20.00 price objective on the stock. Citigroup lifted their target price on Infleqtion from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, August 21st. Finally, Craig Hallum began coverage on shares of Infleqtion in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $19.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.43.

Infleqtion Stock Down 0.1%

Shares of NYSE:INFQ opened at $8.87 on Friday. The firm has a market capitalization of $2.00 billion, a P/E ratio of -59.13 and a beta of 4.64. The business’s fifty day moving average is $12.00. Infleqtion has a 52-week low of $8.38 and a 52-week high of $21.28.

Infleqtion (NYSE:INFQ) last announced its quarterly earnings results 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 business had revenue of $13.54 million for the quarter. Sell-side analysts expect that Infleqtion will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Infleqtion news, Director Maverick Capital Ltd sold 164,824 shares of the business’s 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 sale, the director directly owned 1,381,233 shares in the company, valued at $17,983,653.66. The trade was a 10.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 250,300 shares of company stock valued at $3,165,428.

Hedge Funds Weigh In On Infleqtion

Hedge funds have recently bought and sold shares of the business. S&G Foundation acquired a new position in shares of Infleqtion in the 2nd quarter valued at $154,164,000. Davis Asset Management L.P. purchased a new stake in Infleqtion during the second quarter worth approximately $27,783,000. Bank of New York Mellon Corp boosted its stake in Infleqtion by 1,350.7% during 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 purchasing an additional 1,002,576 shares during the period. Pinnacle Associates Ltd. increased its stake in 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 buying an additional 311,280 shares during the period. Finally, Wellington Management Group LLP purchased a new position in Infleqtion in the second quarter worth $3,708,000.

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.