Infleqtion (NYSE:INFQ) Short Interest Up 105.4% in June

Infleqtion (NYSE:INFQ) was the recipient of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 8,225,824 shares, a growth of 105.4% from the May 31st total of 4,004,403 shares. Based on an average daily volume of 18,244,151 shares, the days-to-cover ratio is currently 0.5 days. Approximately 3.8% of the company’s shares are sold short.

Analyst Ratings Changes

A number of research firms recently issued reports on INFQ. Weiss Ratings initiated coverage on Infleqtion in a research note on Wednesday, May 27th. They issued a “sell (d)” rating on the stock. UBS Group assumed coverage on Infleqtion in a research note on Wednesday, April 29th. They set a “buy” rating for the company. Wall Street Zen raised Infleqtion from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Wedbush assumed coverage on shares of Infleqtion in a research note on Friday, June 26th. They set an “outperform” rating and a $20.00 price objective on the stock. Finally, BTIG Research started coverage on Infleqtion in a research note on Friday, April 10th. They issued a “buy” rating and a $22.00 price target on the stock. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.67.

Insiders Place Their Bets

In other news, CTO Pranav Gokhale sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $17.73, for a total value of $2,127,600.00. Following the sale, the chief technology officer directly owned 2,218,980 shares of the company’s stock, valued at approximately $39,342,515.40. The trade was a 5.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maverick Capital Ltd sold 6,584,519 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $14.69, for a total transaction of $96,726,584.11. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 28,161,988 shares of company stock worth $443,111,218.

Infleqtion Stock Performance

INFQ traded down $0.35 during midday trading on Wednesday, reaching $12.96. The company’s stock had a trading volume of 9,740,754 shares, compared to its average volume of 9,639,993. Infleqtion has a twelve month low of $8.52 and a twelve month high of $27.50. The stock has a market capitalization of $2.83 billion and a PE ratio of -144.06. The firm has a fifty day simple moving average of $14.08.

Infleqtion (NYSE:INFQ) last released its quarterly earnings data on Tuesday, March 31st. The quantum tech company reported ($0.83) earnings per share for the quarter. As a group, sell-side analysts expect that Infleqtion will post -0.47 earnings per share for the current year.

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.