Insider Selling: Infleqtion (NYSE:INFQ) CTO Sells $2,127,600.00 in Stock

Infleqtion (NYSE:INFQ) CTO Pranav Gokhale sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $17.73, for a total value of $2,127,600.00. Following the completion of the sale, the chief technology officer owned 2,218,980 shares in the company, valued at approximately $39,342,515.40. This represents a 5.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Infleqtion Price Performance

NYSE:INFQ opened at $14.56 on Monday. The firm has a market cap of $3.18 billion and a PE ratio of -161.73. 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 Tuesday, March 31st. The quantum tech company reported ($0.83) EPS for the quarter.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INFQ. Wall Street Zen upgraded Infleqtion from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Citigroup began coverage on Infleqtion in a report on Tuesday, April 14th. They issued a “buy” rating and a $20.00 price target for the company. UBS Group started coverage on Infleqtion in a report on Wednesday, April 29th. They issued a “buy” rating for the company. Weiss Ratings started coverage on Infleqtion in a research note on Wednesday, May 27th. They set a “sell (d)” rating for the company. Finally, BTIG Research started coverage on Infleqtion in a research note on Friday, April 10th. They set a “buy” rating and a $22.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Infleqtion currently has a consensus rating of “Moderate Buy” and a consensus target price 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.