Analysts Set Infleqtion (NYSE:INFQ) Price Target at $20.60

Shares of Infleqtion (NYSE:INFQ) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $21.00.

INFQ has been the topic of several research analyst reports. Craig Hallum assumed coverage on shares of Infleqtion in a report on Wednesday, July 22nd. They issued a “buy” rating and a $19.00 target price on the stock. Wedbush initiated coverage on shares of Infleqtion in a report on Monday, August 3rd. They issued an “outperform” rating and a $20.00 price target on the stock. UBS Group started coverage on shares of Infleqtion in a report on Wednesday, April 29th. They issued a “buy” rating on the stock. Zacks Research upgraded shares of Infleqtion to a “hold” rating in a research note on Monday, June 29th. Finally, Citigroup increased their price objective on shares of Infleqtion from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday.

Insider Buying and Selling

In other Infleqtion news, Director Maverick Capital Ltd sold 164,824 shares of Infleqtion stock in a transaction that occurred 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 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 legal filing with the SEC, which is available through the SEC website. Also, 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 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 disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 4,227,639 shares of company stock worth $67,357,171.

Institutional Investors Weigh In On Infleqtion

Large investors have recently bought and sold shares of the business. Secure Asset Management LLC bought a new position in Infleqtion during the second quarter valued at $847,000. Wellington Management Group LLP bought a new stake in shares of Infleqtion in the 2nd quarter worth about $3,708,000. Bank of New York Mellon Corp increased its holdings in shares of Infleqtion by 1,350.7% in 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 buying an additional 1,002,576 shares during the last quarter. Davis Asset Management L.P. bought a new stake in shares of Infleqtion in the 2nd quarter worth about $27,783,000. Finally, S&G Foundation purchased a new stake in shares of Infleqtion during the 2nd quarter valued at about $154,164,000.

Infleqtion Price Performance

Shares of INFQ opened at $14.08 on Friday. The company’s 50 day simple moving average is $11.78. Infleqtion has a 12-month low of $8.52 and a 12-month high of $27.50. The company has a market cap of $3.07 billion and a P/E ratio of -93.87.

Infleqtion (NYSE:INFQ) last posted its quarterly earnings results on Wednesday, August 12th. The quantum tech company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.04). The business had revenue of $13.54 million during the quarter. On average, equities research analysts predict that Infleqtion will post -0.24 EPS for the current year.

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.