Infleqtion (NYSE:INFQ) Hits New 12-Month Low – Here’s What Happened

Infleqtion (NYSE:INFQ)’s share price hit a new 52-week low during mid-day trading on Friday. The stock traded as low as $8.42 and last traded at $8.5350, with a volume of 9,312,392 shares changing hands. The stock had previously closed at $9.48.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. B. Riley Financial began coverage on Infleqtion in a research report on Friday, September 4th. They set a “buy” rating on the stock. BTIG Research reissued a “buy” rating and issued a $25.00 price objective on shares of Infleqtion in a report on Friday, September 25th. Wall Street Zen upgraded shares of Infleqtion from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 22nd. Weiss Ratings restated a “sell (d)” rating on shares of Infleqtion in a research note on Monday, August 24th. Finally, Canaccord Genuity Group initiated coverage on shares of Infleqtion in a report on Thursday, July 2nd. They issued a “buy” rating and a $22.00 target price for the company. One equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.43.

Infleqtion Stock Performance

The firm has a 50 day moving average of $12.76. The company has a market cap of $1.92 billion, a price-to-earnings ratio of -56.77 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 for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). The company had revenue of $13.54 million for the quarter. Equities research analysts anticipate that Infleqtion will post -0.23 EPS for the current year.

Insider Buying and Selling at Infleqtion

In other news, Director Maverick Capital Ltd sold 164,824 shares of Infleqtion 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 sale, the director owned 1,381,233 shares of the company’s stock, valued at $17,983,653.66. The trade was a 10.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 250,300 shares of company stock valued at $3,165,428 over the last quarter.

Institutional Investors Weigh In On Infleqtion

A number of institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC acquired a new position in Infleqtion during the 2nd quarter worth approximately $41,000. NewEdge Advisors LLC acquired a new position in Infleqtion during the second quarter worth $56,000. Arizona State Retirement System acquired a new position in shares of Infleqtion during the 2nd quarter worth $183,000. Straight Path Wealth Management acquired a new stake in shares of Infleqtion in the 2nd quarter worth approximately $193,000. Finally, Investor s Fiduciary Advisor Network LLC acquired a new position in shares of Infleqtion during the 2nd quarter worth $194,000.

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.