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

Infleqtion (NYSE:INFQ) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

INFQ has been the topic of several other research reports. B. Riley Financial initiated coverage on Infleqtion in a report on Friday, September 4th. They issued a “buy” rating on the stock. Morgan Stanley assumed coverage on Infleqtion in a report on Thursday, October 15th. They set an “equal weight” rating and a $12.00 target price for the company. 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. Craig Hallum assumed coverage on shares of Infleqtion in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $19.00 price objective for the company. Finally, Wedbush assumed coverage on shares of Infleqtion in a report on Monday, August 3rd. They issued an “outperform” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Infleqtion currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.57.

Infleqtion Stock Performance

Shares of INFQ stock opened at $8.14 on Friday. Infleqtion has a one year low of $8.05 and a one year high of $21.28. The firm’s 50 day moving average price is $11.88 and its 200-day moving average price is $12.54.

Infleqtion (NYSE:INFQ) last released 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 during the quarter. On average, research analysts forecast that Infleqtion will post -0.24 earnings per share for the current year.

Insider Activity at Infleqtion

In other Infleqtion 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 value of $2,146,008.48. Following the sale, the director directly owned 1,381,233 shares of the company’s stock, valued at approximately $17,983,653.66. This represents a 10.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders have sold 222,132 shares of company stock valued at $2,843,186.

Institutional Trading of Infleqtion

A number of institutional investors have recently bought and sold shares of INFQ. Sterling Capital Management LLC boosted its position in shares of Infleqtion by 116.2% during the 3rd quarter. Sterling Capital Management LLC now owns 2,908 shares of the quantum tech company’s stock worth $39,000 after acquiring an additional 1,563 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Infleqtion during the 2nd quarter worth about $41,000. NewEdge Advisors LLC acquired a new stake in shares of Infleqtion during the 2nd quarter worth about $56,000. Signature Equity Partners LLC raised its position in shares of Infleqtion by 45.5% during the 3rd quarter. Signature Equity Partners LLC now owns 9,427 shares of the quantum tech company’s stock worth $127,000 after acquiring an additional 2,949 shares in the last quarter. Finally, Arizona State Retirement System purchased a new stake in Infleqtion during the second quarter worth approximately $183,000.

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.