Infleqtion (NYSE:INFQ) Downgraded to Strong Sell Rating by Wall Street Zen

Infleqtion (NYSE:INFQ) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.

Other equities analysts also recently issued research reports about the company. Weiss Ratings initiated coverage on Infleqtion in a research report on Wednesday, May 27th. They set a “sell (d)” rating for the company. Canaccord Genuity Group initiated coverage on shares of Infleqtion in a research note on Thursday, July 2nd. They set a “buy” rating and a $22.00 price target on the stock. BTIG Research began coverage on Infleqtion in a research note on Friday, April 10th. They issued a “buy” rating and a $22.00 price objective on the stock. UBS Group assumed coverage on shares of Infleqtion in a research report on Wednesday, April 29th. They set a “buy” rating for the company. Finally, Citigroup assumed coverage on shares of Infleqtion in a research report on Tuesday, April 14th. They issued a “buy” rating and a $20.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Infleqtion Stock Up 0.5%

Shares of NYSE:INFQ opened at $9.11 on Friday. The company has a 50-day simple moving average of $13.57. Infleqtion has a one year low of $8.52 and a one year high of $27.50. The stock has a market capitalization of $1.99 billion and a PE ratio of -101.17.

Infleqtion (NYSE:INFQ) last released its quarterly earnings results on Tuesday, March 31st. The quantum tech company reported ($0.83) earnings per share (EPS) for the quarter. On average, equities research analysts forecast that Infleqtion will post -0.47 earnings per share for the current fiscal year.

Insider Transactions at Infleqtion

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 stock was sold at an average price of $17.73, for a total transaction of $2,127,600.00. Following the completion of the transaction, the chief technology officer directly owned 2,218,980 shares in the company, valued at approximately $39,342,515.40. The trade was a 5.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David B. Singer sold 1,797,637 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $16.10, for a total value of $28,941,955.70. The SEC filing for this sale provides additional information. Insiders sold a total of 28,161,988 shares of company stock worth $443,111,218 over the last 90 days.

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.