Infleqtion (NYSE:INFQ) Rating Lowered to Strong Sell at Wall Street Zen

Infleqtion (NYSE:INFQ) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a report released on Saturday, Wall Street Zen reports.

INFQ has been the topic of several other research reports. Weiss Ratings restated a “sell (d)” rating on shares of Infleqtion in a research report on Monday, August 24th. Citigroup boosted their price target on Infleqtion from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. Canaccord Genuity Group initiated coverage on Infleqtion in a research report on Thursday, July 2nd. They set a “buy” rating and a $22.00 price target for the company. BTIG Research reissued a “buy” rating and issued a $25.00 price objective on shares of Infleqtion in a research note on Friday, September 25th. Finally, Wedbush began coverage on Infleqtion in a report on Monday, August 3rd. They issued an “outperform” rating and a $20.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.43.

Infleqtion Stock Performance

INFQ opened at $8.77 on Friday. Infleqtion has a twelve month low of $8.38 and a twelve month high of $24.22. The stock’s 50-day moving average is $12.36. The firm has a market cap of $1.98 billion, a P/E ratio of -58.43 and a beta of 4.26.

Infleqtion (NYSE:INFQ) last posted its quarterly earnings data on Wednesday, August 12th. The quantum tech company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.04). The company had revenue of $13.54 million during the quarter. As a group, sell-side analysts expect that Infleqtion will post -0.24 earnings per share for the current year.

Insider Transactions at Infleqtion

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Straight Path Wealth Management increased its holdings in shares of Infleqtion by 10.3% in the third quarter. Straight Path Wealth Management now owns 16,000 shares of the quantum tech company’s stock valued at $216,000 after purchasing an additional 1,500 shares during the last quarter. Steinberganna Wealth Management boosted its stake in Infleqtion by 65.3% during the third quarter. Steinberganna Wealth Management now owns 169,260 shares of the quantum tech company’s stock worth $2,280,000 after buying an additional 66,877 shares during the last quarter. McGuire Investment Group LLC boosted its stake in Infleqtion by 37.4% during the third quarter. McGuire Investment Group LLC now owns 36,865 shares of the quantum tech company’s stock worth $497,000 after buying an additional 10,040 shares during the last quarter. Sterling Capital Management LLC boosted its stake in Infleqtion by 116.2% during the third quarter. Sterling Capital Management LLC now owns 2,908 shares of the quantum tech company’s stock worth $39,000 after buying an additional 1,563 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in Infleqtion by 42.4% during the third quarter. Pinnacle Associates Ltd. now owns 1,045,860 shares of the quantum tech company’s stock worth $14,088,000 after buying an additional 311,280 shares during the last quarter.

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.