Infleqtion (NYSE:INFQ) Stock Rating Lowered by Wall Street Zen

Infleqtion (NYSE:INFQ) was downgraded by analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued on Monday, Wall Street Zen reports.

INFQ has been the topic of a number of other reports. BTIG Research reissued a “buy” rating and issued a $25.00 price objective on shares of Infleqtion in a research report on Friday, September 25th. B. Riley Financial dropped their target price on Infleqtion from $23.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, November 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Infleqtion in a research note on Monday, August 24th. Citigroup increased their price target on Infleqtion from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, August 21st. Finally, Craig Hallum assumed coverage on Infleqtion in a report on Wednesday, July 22nd. They issued a “buy” rating and a $19.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.57.

Infleqtion Trading Down 3.2%

INFQ stock opened at $9.35 on Monday. Infleqtion has a twelve month low of $7.01 and a twelve month high of $21.28. The firm’s fifty day simple moving average is $11.31 and its two-hundred day simple moving average is $12.39.

Infleqtion (NYSE:INFQ) last released its quarterly earnings results 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 -0.45 EPS for the current year.

Insider Transactions at Infleqtion

In other Infleqtion news, Director Maverick Capital Ltd sold 164,824 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 1,381,233 shares of the company’s stock, valued at approximately $17,983,653.66. This trade represents a 10.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 199,838 shares of company stock worth $2,587,193.

Institutional Investors Weigh In On Infleqtion

Several hedge funds have recently modified their holdings of the business. S&G Foundation purchased a new position in Infleqtion during the second quarter valued at approximately $154,164,000. Davis Asset Management L.P. purchased a new stake in Infleqtion during the second quarter worth $27,783,000. Bank of New York Mellon Corp lifted its holdings in Infleqtion by 1,350.7% during the second quarter. Bank of New York Mellon Corp now owns 1,076,802 shares of the quantum tech company’s stock worth $14,343,000 after buying an additional 1,002,576 shares during the period. Pinnacle Associates Ltd. boosted its position in Infleqtion by 42.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,045,860 shares of the quantum tech company’s stock valued at $14,088,000 after acquiring an additional 311,280 shares in the last quarter. Finally, Integrated Advisors Network LLC boosted its position in Infleqtion by 58.2% during the 3rd quarter. Integrated Advisors Network LLC now owns 724,335 shares of the quantum tech company’s stock valued at $9,757,000 after acquiring an additional 266,602 shares in 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.