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

Infleqtion (NYSE:INFQ) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts also recently issued research reports about the company. UBS Group began coverage on Infleqtion in a report on Wednesday, April 29th. They set a “buy” rating for the company. Wedbush initiated coverage on shares of Infleqtion in a research note on Friday, June 26th. They issued an “outperform” rating and a $20.00 price objective for the company. Canaccord Genuity Group initiated coverage on shares of Infleqtion in a report on Thursday. They issued a “buy” rating and a $22.00 price objective for the company. BTIG Research initiated coverage on shares of Infleqtion in a research report on Friday, April 10th. They set a “buy” rating and a $22.00 target price on the stock. Finally, Citigroup initiated coverage on shares of Infleqtion in a report on Tuesday, April 14th. They set a “buy” rating and a $20.00 target price on the stock. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Infleqtion has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Infleqtion Price Performance

Shares of INFQ stock opened at $12.29 on Friday. The stock’s 50 day moving average is $13.97. The firm has a market capitalization of $2.68 billion and a P/E ratio of -136.59. Infleqtion has a 12-month low of $8.52 and a 12-month high of $27.50.

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

Insider Activity

In other news, CRO Paul Lipman sold 100,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $15.83, for a total value of $1,583,000.00. Following the completion of the transaction, the executive directly owned 100,000 shares in the company, valued at approximately $1,583,000. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David B. Singer sold 1,797,637 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were 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. In the last quarter, insiders have sold 28,161,988 shares of company stock valued at $443,111,218.

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.