Infleqtion (NYSE:INFQ) Stock Price Up 6.2% – Still a Buy?

Infleqtion (NYSE:INFQ) rose 6.2% during mid-day trading on Friday . The stock traded as high as $13.40 and last traded at $13.5830. Approximately 4,055,140 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 9,346,328 shares. The stock had previously closed at $12.79.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Citigroup started coverage on Infleqtion in a research note on Tuesday, April 14th. They set a “buy” rating and a $20.00 price objective on the stock. Wedbush initiated coverage on Infleqtion in a research report on Friday. They set an “outperform” rating and a $20.00 price target on the stock. Weiss Ratings started coverage on Infleqtion in a report on Wednesday, May 27th. They issued a “sell (d)” rating for the company. UBS Group started coverage on shares of Infleqtion in a research note on Wednesday, April 29th. They set a “buy” rating on the stock. Finally, Wall Street Zen raised shares of Infleqtion from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.67.

Infleqtion Trading Up 7.3%

The company has a 50-day moving average of $14.27. The company has a market capitalization of $2.99 billion and a price-to-earnings ratio of -152.44.

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

Insider Transactions at Infleqtion

In related news, CEO Matthew John Kinsella sold 545,824 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $17.19, for a total transaction of $9,382,714.56. Following the sale, the chief executive officer directly owned 545,824 shares of the company’s stock, valued at approximately $9,382,714.56. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David B. Singer sold 6,369,163 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $14.69, for a total value of $93,563,004.47. Following the transaction, the director owned 19,761 shares in the company, valued at $290,289.09. This trade represents a 99.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 28,161,988 shares of company stock worth $443,111,218.

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.