Infleqtion (NYSE:INFQ) Now Covered by Analysts at B. Riley Financial

Key Points

• B. Riley Financial initiated coverage of Infleqtion with a “buy” rating and a $23 price target, implying approximately 81.8% upside from the reported $12.65 share price.
• Analyst sentiment is generally positive, with Infleqtion carrying a consensus “Moderate Buy” rating and an average price target of $21.33, despite one sell rating and mixed assessments from other firms.
• Infleqtion reported a quarterly loss of $0.11 per share, missing the $0.07 loss estimate, on revenue of $13.54 million. Insiders have sold 250,300 shares worth about $3.17 million over the past 90 days.

Equities researchers at B. Riley Financial started coverage on shares of Infleqtion (NYSE:INFQ - Get Free Report) in a report released on Friday, Briefing.com reports. The brokerage set a "buy" rating and a $23.00 price target on the quantum tech company's stock. B. Riley Financial's target price points to a potential upside of 81.82% from the stock's current price.

Several other research firms have also weighed in on INFQ. Wall Street Zen raised shares of Infleqtion from a "strong sell" rating to a "sell" rating in a report on Saturday, August 22nd. Canaccord Genuity Group assumed coverage on Infleqtion in a research report on Thursday, July 2nd. They set a "buy" rating and a $22.00 price target on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Infleqtion in a report on Monday, August 24th. Citigroup lifted their price objective on Infleqtion from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, August 21st. Finally, Craig Hallum started coverage on Infleqtion in a report on Wednesday, July 22nd. They set a "buy" rating and a $19.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Infleqtion presently has a consensus rating of "Moderate Buy" and an average price target of $21.33.

Infleqtion Price Performance

Shares of INFQ stock opened at $12.65 on Friday. The stock has a 50 day moving average price of $11.65. Infleqtion has a 12 month low of $8.52 and a 12 month high of $27.50. The company has a market cap of $2.85 billion, a P/E ratio of -84.33 and a beta of 4.33.

Infleqtion (NYSE:INFQ - Get Free Report) last issued its earnings results on Wednesday, August 12th. The quantum tech company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.04). The firm had revenue of $13.54 million for the quarter. On average, equities analysts expect that Infleqtion will post -0.24 EPS for the current year.

Insider Transactions at Infleqtion

In other news, Director Maverick Capital Ltd sold 164,824 shares of Infleqtion stock in a transaction that occurred on 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 in the company, valued at $17,983,653.66. The trade was a 10.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 250,300 shares of company stock worth $3,165,428.

Institutional Trading of Infleqtion

Several institutional investors and hedge funds have recently made changes to their positions in INFQ. Straight Path Wealth Management bought a new position in shares of Infleqtion in the 2nd quarter worth $193,000. Investor s Fiduciary Advisor Network LLC acquired a new position in Infleqtion in the second quarter valued at about $194,000. Corient Private Wealth LP bought a new position in Infleqtion during the second quarter worth about $739,000. Secure Asset Management LLC acquired a new position in shares of Infleqtion during the 2nd quarter worth about $847,000. Finally, Wellington Management Group LLP bought a new stake in shares of Infleqtion in the 2nd quarter valued at about $3,708,000.

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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