Infleqtion (NYSE:INFQ) Lowered to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Infleqtion (NYSE:INFQ) from a sell rating to a strong sell rating in a research report released on Saturday morning.

A number of other research analysts also recently commented on the stock. Zacks Research raised shares of Infleqtion to a “hold” rating in a research note on Monday, June 29th. UBS Group initiated coverage on shares of Infleqtion in a report on Wednesday, April 29th. They issued a “buy” rating for the company. BTIG Research initiated coverage on shares of Infleqtion in a report on Friday, April 10th. They issued a “buy” rating and a $22.00 target price for the company. 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. Finally, Wedbush initiated coverage on shares of Infleqtion in a research note on Friday, June 26th. They set an “outperform” rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Infleqtion Stock Performance

Shares of NYSE:INFQ opened at $9.11 on Friday. The stock has a market capitalization of $1.99 billion and a P/E ratio of -101.17. The firm has a fifty day simple moving average of $13.57. Infleqtion has a 52 week low of $8.52 and a 52 week high of $27.50.

Infleqtion (NYSE:INFQ) last released its earnings results on Tuesday, March 31st. The quantum tech company reported ($0.83) earnings per share for the quarter. Research analysts forecast that Infleqtion will post -0.47 earnings per share for the current year.

Insider Transactions at Infleqtion

In other news, CEO Matthew John Kinsella sold 545,824 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 545,824 shares in the company, valued at approximately $9,382,714.56. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Pranav Gokhale sold 120,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $17.73, for a total transaction of $2,127,600.00. Following the sale, the chief technology officer directly owned 2,218,980 shares of the company’s stock, valued at approximately $39,342,515.40. This trade represents a 5.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 28,161,988 shares of company stock valued at $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.