Infleqtion (NYSE:INFQ) Rating Lowered to “Strong Sell” at Wall Street Zen

Infleqtion (NYSE:INFQ) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other research firms have also commented on INFQ. Weiss Ratings reissued a “sell (d)” rating on shares of Infleqtion in a research note on Monday, August 24th. Canaccord Genuity Group began coverage on Infleqtion in a research note on Thursday, July 2nd. They set a “buy” rating and a $22.00 price objective for the company. Zacks Research upgraded shares of Infleqtion to a “hold” rating in a research report on Monday, June 29th. Citigroup upped their target price on shares of Infleqtion from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, August 21st. Finally, B. Riley Financial began coverage on Infleqtion in a research note on Friday, September 4th. They issued a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.43.

Infleqtion Stock Down 0.4%

Shares of INFQ opened at $8.77 on Friday. The firm’s 50-day simple moving average is $12.36. Infleqtion has a 12-month low of $8.38 and a 12-month high of $24.22.

Infleqtion (NYSE:INFQ) last announced its quarterly earnings data on Wednesday, August 12th. The quantum tech company reported ($0.11) earnings per share (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. On average, equities analysts forecast that Infleqtion will post -0.24 earnings per share for the current 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 dated Friday, August 21st. The shares were sold at an average price of $13.02, for a total value of $2,146,008.48. Following the completion of the sale, the director directly owned 1,381,233 shares of the company’s stock, valued at $17,983,653.66. The trade was a 10.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 250,300 shares of company stock valued at $3,165,428.

Institutional Trading of Infleqtion

Large investors have recently bought and sold shares of the stock. S&G Foundation acquired a new stake in shares of Infleqtion during the 2nd quarter worth approximately $154,164,000. Davis Asset Management L.P. purchased a new position in Infleqtion in the 2nd quarter valued at $27,783,000. Bank of New York Mellon Corp boosted its holdings in shares of 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 last quarter. Pinnacle Associates Ltd. grew its stake 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 buying an additional 311,280 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in Infleqtion in the 2nd quarter valued at about $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.