B. Riley Financial Issues Pessimistic Forecast for Infleqtion (NYSE:INFQ) Stock Price

Key Points

• B. Riley Financial lowered Infleqtion’s price target to $17 from $23 while maintaining a “buy” rating, implying approximately 96.65% upside from the stock’s $8.64 price.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and average target price of $19.57, though ratings range from Strong Buy to Sell.
• Infleqtion’s shares have fallen near their 52-week low, and the company recently reported an adjusted loss of $0.11 per share—worse than the expected $0.07 loss—on $13.54 million in revenue.

Infleqtion (NYSE:INFQ - Get Free Report) had its target price dropped by research analysts at B. Riley Financial from $23.00 to $17.00 in a report released on Monday, Benzinga reports. The firm presently has a "buy" rating on the quantum tech company's stock. B. Riley Financial's price objective would indicate a potential upside of 96.65% from the company's current price.

Several other brokerages have also recently issued reports on INFQ. Craig Hallum began coverage on shares of Infleqtion in a report on Wednesday, July 22nd. They issued a "buy" rating and a $19.00 target price for the company. Weiss Ratings reiterated a "sell (d)" rating on shares of Infleqtion in a report on Monday, August 24th. Citigroup raised their price target on shares of Infleqtion from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, August 21st. Wedbush assumed coverage on shares of Infleqtion in a report on Monday, August 3rd. They issued an "outperform" rating and a $20.00 price objective for the company. Finally, BTIG Research reiterated a "buy" rating and set a $25.00 target price on shares of Infleqtion in a research note on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.57.

Infleqtion Stock Performance

INFQ stock traded down $0.23 on Monday, reaching $8.64. 1,544,141 shares of the company traded hands, compared to its average volume of 9,188,945. Infleqtion has a one year low of $8.38 and a one year high of $21.28. The company has a market cap of $1.95 billion, a P/E ratio of -58.03 and a beta of 4.64. The firm's fifty day simple moving average is $12.00.

Infleqtion (NYSE:INFQ - Get Free Report) last released its earnings results on Wednesday, August 12th. The quantum tech company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.04). The business had revenue of $13.54 million during the quarter. As a group, sell-side analysts forecast that Infleqtion will post -0.24 earnings per share for the current fiscal year.

Insider Activity at Infleqtion

In other news, Director Maverick Capital Ltd sold 164,824 shares of the company'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 completion of the sale, the director owned 1,381,233 shares of the company's stock, valued at $17,983,653.66. This represents a 10.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 250,300 shares of company stock worth $3,165,428.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of INFQ. Sterling Capital Management LLC raised its stake in shares of Infleqtion by 116.2% in the third quarter. Sterling Capital Management LLC now owns 2,908 shares of the quantum tech company's stock worth $39,000 after buying an additional 1,563 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Infleqtion during the 2nd quarter valued at about $41,000. NewEdge Advisors LLC bought a new position in shares of Infleqtion during the 2nd quarter valued at approximately $56,000. Signature Equity Partners LLC grew its stake in shares of Infleqtion by 45.5% during the 3rd quarter. Signature Equity Partners LLC now owns 9,427 shares of the quantum tech company's stock valued at $127,000 after acquiring an additional 2,949 shares during the period. Finally, Arizona State Retirement System bought a new position in shares of Infleqtion during the 2nd quarter valued at approximately $183,000.

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.

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