Infleqtion (NYSE:INFQ) Research Coverage Started at Wedbush

Wedbush started coverage on shares of Infleqtion (NYSE:INFQ) in a research report report published on Monday morning, MarketBeat reports. The brokerage issued an outperform rating and a $20.00 price objective on the quantum tech company’s stock.

Several other brokerages have also recently issued reports on INFQ. Canaccord Genuity Group initiated coverage on Infleqtion in a report on Thursday, July 2nd. They issued a “buy” rating and a $22.00 target price for the company. Weiss Ratings began coverage on shares of Infleqtion in a research report on Wednesday, May 27th. They set a “sell (d)” rating on the stock. Citigroup began coverage on shares of Infleqtion in a report on Tuesday, April 14th. They issued a “buy” rating and a $20.00 price objective for the company. Craig Hallum assumed coverage on shares of Infleqtion in a research report on Wednesday, July 22nd. They set a “buy” rating and a $19.00 price objective for the company. Finally, Zacks Research raised shares of Infleqtion to a “hold” rating in a research note on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Infleqtion currently has an average rating of “Moderate Buy” and an average target price of $20.60.

Infleqtion Trading Down 5.0%

Shares of Infleqtion stock opened at $10.89 on Monday. The business’s 50 day moving average is $12.61. The firm has a market cap of $2.38 billion and a PE ratio of -120.98. Infleqtion has a 1-year low of $8.52 and a 1-year high of $27.50.

Infleqtion (NYSE:INFQ) last posted its quarterly earnings results on Tuesday, March 31st. The quantum tech company reported ($0.83) EPS for the quarter. As a group, research analysts forecast that Infleqtion will post -0.47 earnings per share for the current fiscal year.

Insider Activity at Infleqtion

In other Infleqtion news, Director David B. Singer sold 6,369,163 shares of Infleqtion stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $14.69, for a total transaction of $93,563,004.47. Following the completion of the sale, the director directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Pranav Gokhale sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $17.73, for a total transaction of $2,127,600.00. Following the completion of the sale, the chief technology officer directly owned 2,218,980 shares in the company, valued at $39,342,515.40. This trade represents a 5.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 28,161,988 shares of company stock worth $443,111,218.

Infleqtion Company Profile

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.