Infleqtion (NYSE:INFQ) Upgraded to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Infleqtion from “strong sell” to “sell,” while the broader analyst consensus remains “Moderate Buy” with a $20.43 target price.
• Infleqtion opened at $8.87, near its 52-week low of $8.38, and recently reported an adjusted loss of $0.11 per share—worse than the $0.07 expected—on $13.54 million in revenue.
• Insiders have sold 250,300 shares worth about $3.17 million over the past 90 days, including a 164,824-share sale by director Maverick Capital.

Infleqtion (NYSE:INFQ - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report released on Sunday, Wall Street Zen reports.

INFQ has been the topic of several other reports. 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 target on the stock. BTIG Research reaffirmed a "buy" rating and set a $25.00 price objective on shares of Infleqtion in a research note on Friday, September 25th. Craig Hallum started coverage on shares of Infleqtion in a report on Wednesday, July 22nd. They issued a "buy" rating and a $19.00 price objective for the company. Morgan Stanley assumed coverage on shares of Infleqtion in a research note on Thursday, October 15th. They issued an "equal weight" rating and a $12.00 target price on the stock. Finally, Citigroup boosted their target price on Infleqtion from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Infleqtion has a consensus rating of "Moderate Buy" and a consensus target price of $20.43.

Infleqtion Stock Performance

NYSE INFQ opened at $8.87 on Friday. The firm has a fifty day moving average price of $12.00. Infleqtion has a 1 year low of $8.38 and a 1 year high of $21.28.

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

Insider Activity

In related 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 value 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 approximately $17,983,653.66. This represents a 10.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold a total of 250,300 shares of company stock valued at $3,165,428 over the last ninety days.

Institutional Trading of Infleqtion

Several hedge funds have recently made changes to their positions in INFQ. Straight Path Wealth Management raised its position in Infleqtion by 10.3% in the third quarter. Straight Path Wealth Management now owns 16,000 shares of the quantum tech company's stock valued at $216,000 after purchasing an additional 1,500 shares during the period. Sterling Capital Management LLC grew its holdings in shares of Infleqtion by 116.2% during the 3rd quarter. Sterling Capital Management LLC now owns 2,908 shares of the quantum tech company's stock worth $39,000 after purchasing an additional 1,563 shares during the period. Signature Equity Partners LLC grew its holdings 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 worth $127,000 after purchasing an additional 2,949 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Infleqtion during the 2nd quarter worth $41,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Infleqtion during the 2nd quarter worth about $56,000.

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.

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