Infleqtion (NYSE:INFQ) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of Infleqtion (NYSE:INFQ) from a sell rating to a strong sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

A number of other research analysts have also weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Infleqtion in a research report on Monday, August 24th. Morgan Stanley set a $12.00 target price on Infleqtion and gave the stock an “equal weight” rating in a research report on Thursday, October 15th. B. Riley Financial initiated coverage on Infleqtion in a research note on Friday, September 4th. They set a “buy” rating for the company. Craig Hallum started coverage on Infleqtion in a report on Wednesday, July 22nd. They set a “buy” rating and a $19.00 price target for the company. Finally, Canaccord Genuity Group initiated coverage on Infleqtion in a report on Thursday, July 2nd. They set a “buy” rating and a $22.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.43.

Infleqtion Price Performance

NYSE:INFQ opened at $8.62 on Friday. The firm’s 50-day moving average is $12.36. Infleqtion has a 52-week low of $8.38 and a 52-week high of $24.22.

Infleqtion (NYSE:INFQ) last announced its quarterly earnings data on Wednesday, August 12th. The quantum tech company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). The firm had revenue of $13.54 million for the quarter. Equities research analysts predict that Infleqtion will post -0.24 EPS for the current year.

Insider Transactions at Infleqtion

In related news, Director Maverick Capital Ltd sold 164,824 shares of the business’s 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 completion of the sale, the director owned 1,381,233 shares in the company, valued at approximately $17,983,653.66. The trade was a 10.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 250,300 shares of company stock valued at $3,165,428.

Institutional Investors Weigh In On Infleqtion

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in Infleqtion by 1,350.7% during the second quarter. Bank of New York Mellon Corp now owns 1,076,802 shares of the quantum tech company’s stock valued at $14,343,000 after buying an additional 1,002,576 shares during the period. S&G Foundation bought a new position in Infleqtion in the second quarter worth approximately $154,164,000. Baird Financial Group Inc. bought a new position in Infleqtion in the second quarter worth approximately $2,435,000. Integrated Advisors Network LLC raised its stake in Infleqtion by 58.2% in the third quarter. Integrated Advisors Network LLC now owns 724,335 shares of the quantum tech company’s stock worth $9,757,000 after buying an additional 266,602 shares in the last quarter. Finally, Davis Asset Management L.P. purchased a new stake in Infleqtion during the second quarter worth $27,783,000.

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.