Infleqtion (NYSE:INFQ) Rating Increased to Hold at Zacks Research

Infleqtion (NYSE:INFQ) was upgraded by research analysts at Zacks Research to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other research firms have also weighed in on INFQ. BTIG Research assumed coverage on Infleqtion in a research note on Friday, April 10th. They issued a “buy” rating and a $22.00 target price for the company. Citigroup started coverage on Infleqtion in a research report on Tuesday, April 14th. They issued a “buy” rating and a $20.00 price objective for the company. Wedbush initiated coverage on shares of Infleqtion in a report on Friday. They issued an “outperform” rating and a $20.00 target price on the stock. Wall Street Zen upgraded shares of Infleqtion from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Finally, Weiss Ratings started coverage on shares of Infleqtion in a research report on Wednesday, May 27th. They set a “sell (d)” rating for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.67.

Infleqtion Stock Performance

INFQ stock opened at $13.32 on Monday. The company has a market cap of $2.91 billion and a price-to-earnings ratio of -147.99. The firm’s fifty day simple moving average is $14.14. Infleqtion has a 52 week low of $8.52 and a 52 week high of $27.50.

Infleqtion (NYSE:INFQ) last posted its quarterly earnings results on Tuesday, March 31st. The quantum tech company reported ($0.83) earnings per share for the quarter. As a group, equities analysts predict that Infleqtion will post -0.47 earnings per share for the current fiscal year.

Insider Activity

In related news, Director David B. Singer sold 6,369,163 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director owned 19,761 shares of the company’s stock, valued at $290,289.09. This trade represents a 99.69% decrease in their ownership of the stock. 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 firm’s stock in a transaction 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 completion of the transaction, the chief technology officer owned 2,218,980 shares in the company, valued at approximately $39,342,515.40. This trade represents a 5.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 28,161,988 shares of company stock valued at $443,111,218 over the last ninety days.

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.