Infleqtion (NYSE:INFQ) Hits New 12-Month Low on Analyst Downgrade

Infleqtion (NYSE:INFQ) reached a new 52-week low on Monday after B. Riley Financial lowered their price target on the stock from $23.00 to $17.00. B. Riley Financial currently has a buy rating on the stock. Infleqtion traded as low as $8.26 and last traded at $8.35, with a volume of 3,431,453 shares trading hands. The stock had previously closed at $8.88.

A number of other brokerages have also recently commented on INFQ. Wedbush initiated coverage on shares of Infleqtion in a research note on Monday, August 3rd. They set an “outperform” rating and a $20.00 price target for the company. Morgan Stanley assumed coverage on Infleqtion in a research note on Thursday, October 15th. They issued an “equal weight” rating and a $12.00 price objective on the stock. Citigroup increased their target price on Infleqtion from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, August 21st. Weiss Ratings restated a “sell (d)” rating on shares of Infleqtion in a research report on Monday, August 24th. Finally, Wall Street Zen raised Infleqtion from a “strong sell” rating to a “sell” rating in a research note on Sunday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.57.

Insider Buying and Selling

In other Infleqtion news, Director Maverick Capital Ltd sold 164,824 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $13.02, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 250,300 shares of company stock valued at $3,165,428 in the last quarter.

Institutional Investors Weigh In On Infleqtion

A number of large investors have recently bought and sold shares of the business. Straight Path Wealth Management raised its position in Infleqtion by 10.3% in the 3rd quarter. Straight Path Wealth Management now owns 16,000 shares of the quantum tech company’s stock valued at $216,000 after purchasing an additional 1,500 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of Infleqtion by 116.2% during the third quarter. Sterling Capital Management LLC now owns 2,908 shares of the quantum tech company’s stock worth $39,000 after purchasing an additional 1,563 shares during the last quarter. Signature Equity Partners LLC grew its holdings in shares of Infleqtion by 45.5% during the third quarter. Signature Equity Partners LLC now owns 9,427 shares of the quantum tech company’s stock worth $127,000 after purchasing an additional 2,949 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Infleqtion in the second quarter valued at $41,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Infleqtion in the second quarter valued at $56,000.

Infleqtion Stock Down 5.9%

The company’s fifty day moving average price is $12.00. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -55.51 and a beta of 4.64.

Infleqtion (NYSE:INFQ) last issued its quarterly earnings data 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. On average, equities research analysts predict that Infleqtion will post -0.24 earnings per share for the current fiscal 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.