Infleqtion (NYSE:INFQ) Now Covered by Analysts at B. Riley Financial

Analysts at B. Riley Financial assumed coverage on shares of Infleqtion (NYSE:INFQ) in a report issued on Friday, Briefing.com reports. The brokerage set a “buy” rating and a $23.00 price target on the quantum tech company’s stock. B. Riley Financial’s target price would indicate a potential upside of 81.82% from the stock’s previous close.

A number of other research analysts also recently weighed in on the company. Wedbush initiated coverage on Infleqtion in a research note on Monday, August 3rd. They issued an “outperform” rating and a $20.00 price target for the company. Wall Street Zen raised shares of Infleqtion from a “strong sell” rating to a “sell” rating in a report on Saturday, August 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Infleqtion in a research report on Monday, August 24th. Craig Hallum started coverage on shares of Infleqtion in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $19.00 price target for the company. Finally, Zacks Research raised shares of Infleqtion to a “hold” rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.33.

Infleqtion Stock Performance

NYSE INFQ opened at $12.65 on Friday. The business’s 50 day simple moving average is $11.65. Infleqtion has a 52-week low of $8.52 and a 52-week high of $27.50. The company has a market cap of $2.85 billion, a PE ratio of -84.33 and a beta of 4.33.

Infleqtion (NYSE:INFQ) last issued its quarterly earnings data on Wednesday, August 12th. The quantum tech company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). The company had revenue of $13.54 million for the quarter. Analysts anticipate that Infleqtion will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling at Infleqtion

In other news, Director Maverick Capital Ltd sold 164,824 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $13.02, for a total transaction of $2,146,008.48. Following the completion of the transaction, the director directly owned 1,381,233 shares in the company, valued at approximately $17,983,653.66. This represents a 10.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 250,300 shares of company stock worth $3,165,428 over the last quarter.

Institutional Investors Weigh In On Infleqtion

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in Infleqtion by 1,350.7% in the second quarter. Bank of New York Mellon Corp now owns 1,076,802 shares of the quantum tech company’s stock valued at $14,343,000 after purchasing an additional 1,002,576 shares during the last quarter. Davis Asset Management L.P. acquired a new stake in Infleqtion in the second quarter valued at $27,783,000. S&G Foundation acquired a new stake in shares of Infleqtion in the second quarter valued at about $154,164,000. Wellington Management Group LLP acquired a new stake in Infleqtion during the 2nd quarter valued at approximately $3,708,000. Finally, Secure Asset Management LLC bought a new position in Infleqtion during the second quarter worth $847,000.

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.