Infleqtion (NYSE:INFQ) Downgraded by Wall Street Zen to Strong Sell

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

Several other equities analysts also recently issued reports on INFQ. Weiss Ratings reissued a “sell (d)” rating on shares of Infleqtion in a research report on Monday, August 24th. Morgan Stanley initiated coverage on Infleqtion in a research note on Thursday, October 15th. They issued an “equal weight” rating and a $12.00 target price for the company. Wedbush started coverage on Infleqtion in a research report on Monday, August 3rd. They set an “outperform” rating and a $20.00 price target for the company. BTIG Research reiterated a “buy” rating and set a $25.00 price target on shares of Infleqtion in a research note on Friday, September 25th. Finally, Craig Hallum initiated coverage on Infleqtion in a report on Wednesday, July 22nd. They issued a “buy” rating and a $19.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.57.

Infleqtion Trading Up 8.9%

Shares of Infleqtion stock opened at $9.68 on Monday. Infleqtion has a 12-month low of $7.01 and a 12-month high of $21.28. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -64.51 and a beta of 4.63. The firm’s 50 day simple moving average is $11.39 and its two-hundred day simple moving average is $12.41.

Infleqtion (NYSE:INFQ) last posted its quarterly earnings data on Wednesday, August 12th. The quantum tech company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.04). The firm had revenue of $13.54 million for the quarter. On average, sell-side analysts predict that Infleqtion will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Infleqtion news, Director Maverick Capital Ltd sold 164,824 shares of Infleqtion stock in a transaction that occurred on 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 completion of the sale, the director directly owned 1,381,233 shares in the company, valued at approximately $17,983,653.66. The trade was a 10.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 199,838 shares of company stock worth $2,587,193.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. S&G Foundation acquired a new position in Infleqtion during the second quarter valued at $154,164,000. Davis Asset Management L.P. acquired a new stake in Infleqtion during the 2nd quarter worth about $27,783,000. Bank of New York Mellon Corp grew its position in Infleqtion by 1,350.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,076,802 shares of the quantum tech company’s stock worth $14,343,000 after purchasing an additional 1,002,576 shares during the period. Pinnacle Associates Ltd. grew its position in Infleqtion by 42.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,045,860 shares of the quantum tech company’s stock worth $14,088,000 after purchasing an additional 311,280 shares during the period. Finally, Integrated Advisors Network LLC raised its stake in shares of Infleqtion by 58.2% during the 3rd quarter. Integrated Advisors Network LLC now owns 724,335 shares of the quantum tech company’s stock valued at $9,757,000 after buying an additional 266,602 shares during the last quarter.

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.