Infleqtion (NYSE:INFQ) Upgraded by Zacks Research to “Hold” Rating

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

INFQ has been the topic of a number of other reports. Weiss Ratings assumed coverage on Infleqtion in a report on Wednesday, May 27th. They issued a “sell (d)” rating on the stock. Wedbush began coverage on Infleqtion in a research report on Friday. They set an “outperform” rating and a $20.00 price objective on the stock. Wall Street Zen upgraded Infleqtion from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. UBS Group began coverage on shares of Infleqtion in a research report on Wednesday, April 29th. They set a “buy” rating for the company. Finally, BTIG Research started coverage on shares of Infleqtion in a research report on Friday, April 10th. They issued a “buy” rating and a $22.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Infleqtion presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

Infleqtion Price Performance

Shares of INFQ opened at $13.32 on Monday. The stock has a 50 day simple moving average of $14.14. Infleqtion has a fifty-two week low of $8.52 and a fifty-two week high of $27.50. The stock has a market cap of $2.91 billion and a PE ratio of -147.99.

Infleqtion (NYSE:INFQ) last issued its quarterly earnings data on Tuesday, March 31st. The quantum tech company reported ($0.83) earnings per share (EPS) for the quarter. On average, equities analysts expect that Infleqtion will post -0.47 earnings per share for the current fiscal year.

Insider Transactions at Infleqtion

In other Infleqtion news, Director Kristina M. Johnson sold 30,000 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $16.45, for a total value of $493,500.00. Following the completion of the sale, the director directly owned 30,000 shares in the company, valued at $493,500. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 sale, the chief technology officer directly owned 2,218,980 shares of the company’s stock, valued at $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. 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.