Infleqtion’s (INFQ) Outperform Rating Reaffirmed at Wedbush

Infleqtion (NYSE:INFQ)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a report issued on Monday,Benzinga reports. They currently have a $20.00 target price on the quantum tech company’s stock. Wedbush’s price objective would indicate a potential upside of 94.48% from the stock’s previous close.

A number of other research analysts have also weighed in on INFQ. Wall Street Zen lowered shares of Infleqtion from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Craig Hallum assumed coverage on Infleqtion in a research note on Wednesday, July 22nd. They set a “buy” rating and a $19.00 price objective for the company. Canaccord Genuity Group started coverage on Infleqtion in a report on Thursday, July 2nd. They set a “buy” rating and a $22.00 target price for the company. BTIG Research began coverage on Infleqtion in a research report on Friday, April 10th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Citigroup initiated coverage on Infleqtion in a research note on Tuesday, April 14th. They issued a “buy” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Infleqtion has an average rating of “Moderate Buy” and a consensus price target of $20.60.

Infleqtion Price Performance

NYSE:INFQ opened at $10.28 on Monday. The firm has a market capitalization of $2.24 billion and a PE ratio of -113.90. Infleqtion has a fifty-two week low of $8.52 and a fifty-two week high of $27.50. The business’s fifty day moving average is $12.89.

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

Insider Buying and Selling

In other Infleqtion news, Director Maverick Capital Ltd sold 6,584,519 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $14.69, for a total value of $96,726,584.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Pranav Gokhale sold 120,000 shares of Infleqtion 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 transaction, the chief technology officer owned 2,218,980 shares in the company, valued at approximately $39,342,515.40. This represents a 5.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 28,161,988 shares of company stock worth $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.