Infleqtion (NYSE:INFQ) Sees Significant Growth in Short Interest

Infleqtion (NYSE:INFQ) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 8,225,824 shares, a growth of 105.4% from the May 31st total of 4,004,403 shares. Currently, 3.8% of the shares of the stock are sold short. Based on an average trading volume of 18,244,151 shares, the short-interest ratio is currently 0.5 days.

Analysts Set New Price Targets

Several research analysts recently weighed in on INFQ shares. 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 Infleqtion in a research report on Friday. They set an “outperform” rating and a $20.00 price target for the company. UBS Group started coverage on Infleqtion in a research report on Wednesday, April 29th. They issued a “buy” rating for the company. Weiss Ratings initiated coverage on shares of Infleqtion in a research report on Wednesday, May 27th. They issued a “sell (d)” rating for the company. Finally, BTIG Research started coverage on Infleqtion in a research report on Friday, April 10th. They issued a “buy” rating and a $22.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.67.

Infleqtion Stock Down 3.9%

Shares of NYSE:INFQ traded down $0.54 on Tuesday, reaching $13.29. The company’s stock had a trading volume of 5,734,275 shares, compared to its average volume of 9,604,938. The business has a 50-day moving average price of $14.22. Infleqtion has a 52-week low of $8.52 and a 52-week high of $27.50. The company has a market cap of $2.90 billion and a PE ratio of -147.72.

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

Insider Transactions at Infleqtion

In other Infleqtion news, Director Maverick Capital Ltd sold 6,584,519 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 value of $96,726,584.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Matthew John Kinsella sold 545,824 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $17.19, for a total value of $9,382,714.56. Following the transaction, the chief executive officer directly owned 545,824 shares in the company, valued at $9,382,714.56. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,161,988 shares of company stock valued at $443,111,218 in the last 90 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.