Infleqtion (NYSE:INFQ) Sees Significant Decrease in Short Interest

Infleqtion (NYSE:INFQ) saw a large decrease in short interest in May. As of May 29th, there was short interest totaling 4,004,403 shares, a decrease of 35.8% from the May 14th total of 6,238,970 shares. Based on an average trading volume of 32,981,277 shares, the short-interest ratio is currently 0.1 days. Currently, 1.8% of the company’s stock are sold short.

Insider Buying and Selling at Infleqtion

In other Infleqtion news, Director David B. Singer sold 6,369,163 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $14.69, for a total transaction of $93,563,004.47. Following the transaction, the director directly owned 19,761 shares in the company, valued at $290,289.09. This represents a 99.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Pranav Gokhale sold 120,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $17.73, for a total transaction of $2,127,600.00. Following the sale, the chief technology officer directly owned 2,218,980 shares of the company’s stock, valued at approximately $39,342,515.40. The trade was a 5.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,161,988 shares of company stock valued at $443,111,218 in the last 90 days.

Analysts Set New Price Targets

Several research firms have commented on INFQ. Citigroup began coverage on shares of Infleqtion in a research report on Tuesday, April 14th. They set a “buy” rating and a $20.00 price target for the company. Wall Street Zen raised shares of Infleqtion from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. BTIG Research initiated coverage on shares of Infleqtion in a research report on Friday, April 10th. They issued a “buy” rating and a $22.00 price objective for the company. Weiss Ratings initiated coverage on shares of Infleqtion in a research report on Wednesday, May 27th. They issued a “sell (d)” rating for the company. Finally, UBS Group initiated coverage on shares of Infleqtion in a research report on Wednesday, April 29th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Infleqtion presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Infleqtion Price Performance

Infleqtion stock traded down $1.17 during trading on Tuesday, reaching $13.65. The company had a trading volume of 9,837,336 shares, compared to its average volume of 8,637,365. The company has a 50-day moving average of $14.27. Infleqtion has a 1-year low of $8.52 and a 1-year high of $27.50. The company has a market capitalization of $2.98 billion and a price-to-earnings ratio of -151.87.

Infleqtion (NYSE:INFQ) last announced its earnings results on Tuesday, March 31st. The quantum tech company reported ($0.83) earnings per share (EPS) for the quarter.

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.