Infleqtion (NYSE:INFQ) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Infleqtion from “sell” to “strong sell.” Analyst sentiment is mixed overall: MarketBeat reports an average “Moderate Buy” rating and a $19.57 average price target.
• Infleqtion opened at $8.88, within its 12-month range of $7.01–$21.28. The company reported a quarterly loss of $0.11 per share, missing estimates of a $0.07 loss, on revenue of $13.54 million.
• Insiders sold about $2.6 million in shares over the past 90 days; director Maverick Capital Ltd. accounted for a sale of 164,824 shares.

Infleqtion (NYSE:INFQ - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a note issued to investors on Monday, Wall Street Zen reports.

Several other brokerages also recently issued reports on INFQ. Wedbush began coverage on shares of Infleqtion in a research note on Monday, August 3rd. They issued an "outperform" rating and a $20.00 price objective on the stock. Citigroup upped their target price on shares of Infleqtion from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, August 21st. BTIG Research reissued a "buy" rating and issued a $25.00 price target on shares of Infleqtion in a report on Friday, September 25th. Morgan Stanley assumed coverage on shares of Infleqtion in a research report on Thursday, October 15th. They issued an "equal weight" rating and a $12.00 price target on the stock. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Infleqtion in a report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $19.57.

Infleqtion Stock Performance

NYSE INFQ opened at $8.88 on Monday. Infleqtion has a twelve month low of $7.01 and a twelve month high of $21.28. The stock has a market capitalization of $2.00 billion, a PE ratio of -59.17 and a beta of 4.64. The stock has a 50-day simple moving average of $11.45 and a 200 day simple moving average of $12.43.

Infleqtion (NYSE:INFQ - Get Free Report) last released its earnings results on Wednesday, August 12th. The quantum tech company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.04). The business had revenue of $13.54 million during the quarter. As a group, equities research analysts forecast that Infleqtion will post -0.45 EPS for the current fiscal year.

Insider Activity 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 stock was sold at an average price of $13.02, for a total transaction of $2,146,008.48. Following the sale, the director owned 1,381,233 shares of the company's stock, valued at approximately $17,983,653.66. This trade represents a 10.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 200,917 shares of company stock valued at $2,599,947.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of INFQ. Sterling Capital Management LLC boosted its stake in Infleqtion by 116.2% during 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 in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Infleqtion in the 2nd quarter valued at $41,000. NewEdge Advisors LLC acquired a new position in shares of Infleqtion in the 2nd quarter valued at $56,000. Signature Equity Partners LLC raised its stake in shares of Infleqtion by 45.5% in the 3rd quarter. Signature Equity Partners LLC now owns 9,427 shares of the quantum tech company's stock valued at $127,000 after buying an additional 2,949 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Infleqtion by 19.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 11,219 shares of the quantum tech company's stock worth $151,000 after acquiring an additional 1,809 shares during the period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.