Short Interest in Infleqtion (NYSE:INFQ) Grows By 105.4%

Infleqtion (NYSE:INFQ) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 8,225,824 shares, an increase of 105.4% from the May 31st total of 4,004,403 shares. Based on an average daily trading volume, of 18,244,151 shares, the days-to-cover ratio is presently 0.5 days. Approximately 3.8% of the company’s stock are short sold.

Infleqtion Stock Down 3.9%

NYSE INFQ traded down $0.54 during mid-day trading on Tuesday, reaching $13.29. 5,734,275 shares of the stock were exchanged, compared to its average volume of 9,604,938. The stock has a market cap of $2.90 billion and a P/E ratio of -147.72. The business has a 50 day simple moving average of $14.22. Infleqtion has a 1 year low of $8.52 and a 1 year high of $27.50.

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

Insiders Place Their Bets

In related news, CRO Paul Lipman sold 100,000 shares of Infleqtion stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $15.83, for a total value of $1,583,000.00. Following the completion of the sale, the executive directly owned 100,000 shares in the company, valued at $1,583,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Maverick Capital Ltd sold 1,797,637 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $16.10, for a total transaction of $28,941,955.70. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 28,161,988 shares of company stock valued at $443,111,218.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded Infleqtion from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. Weiss Ratings began coverage on Infleqtion in a research note on Wednesday, May 27th. They set a “sell (d)” rating on the stock. UBS Group began coverage on Infleqtion in a report on Wednesday, April 29th. They issued a “buy” rating on the stock. BTIG Research began coverage on Infleqtion in a report on Friday, April 10th. They set a “buy” rating and a $22.00 target price for the company. Finally, Citigroup began coverage on Infleqtion in a research report on Tuesday, April 14th. They issued a “buy” rating and a $20.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Infleqtion currently has a consensus rating of “Moderate Buy” and an average price target of $20.67.

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.