Infleqtion (NYSE:INFQ) Cut to Strong Sell at Wall Street Zen

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

Several other brokerages have also weighed in on INFQ. Citigroup initiated coverage on Infleqtion in a report on Tuesday, April 14th. They issued a “buy” rating and a $20.00 price objective for the company. UBS Group assumed coverage on shares of Infleqtion in a research report on Wednesday, April 29th. They issued a “buy” rating on the stock. Wedbush started coverage on shares of Infleqtion in a report on Friday, June 26th. They issued an “outperform” rating and a $20.00 price target for the company. Weiss Ratings assumed coverage on shares of Infleqtion in a research report on Wednesday, May 27th. They set a “sell (d)” rating for the company. Finally, Canaccord Genuity Group began coverage on shares of Infleqtion in a research note on Thursday, July 2nd. They issued a “buy” rating and a $22.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Infleqtion Stock Up 0.5%

NYSE INFQ opened at $9.11 on Friday. Infleqtion has a 12 month low of $8.52 and a 12 month high of $27.50. The firm has a market capitalization of $1.99 billion and a price-to-earnings ratio of -101.17. The company’s 50 day moving average is $13.57.

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

Insider Activity

In other Infleqtion news, Director Kristina M. Johnson sold 30,000 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $16.45, for a total transaction of $493,500.00. Following the completion of the sale, the director directly owned 30,000 shares of the company’s stock, valued at approximately $493,500. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Paul Lipman sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $15.83, for a total transaction of $1,583,000.00. Following the completion of the transaction, the executive owned 100,000 shares of the company’s stock, valued at approximately $1,583,000. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 28,161,988 shares of company stock worth $443,111,218.

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.