Infleqtion (NYSE:INFQ) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts rate Infleqtion “Moderate Buy.” Seven analysts recommend buying, one strongly recommends buying, one rates it a hold, and one gives a sell rating; the average 12-month price target is $21.33.
• Shares rose 6.6% to $13.70, while recent analyst targets range from $19 to $23. The stock has a market capitalization of about $3.09 billion and a 52-week range of $8.52 to $27.50.
• Infleqtion reported a quarterly loss of $0.11 per share, missing the $0.07 consensus estimate, on revenue of $13.54 million. Insiders sold 250,300 shares worth approximately $3.17 million during the last quarter.

Shares of Infleqtion (NYSE:INFQ - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $21.3333.

Several analysts recently commented on the stock. Citigroup upped 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. Craig Hallum initiated coverage on shares of Infleqtion in a research note on Wednesday, July 22nd. They issued a "buy" rating and a $19.00 price objective on the stock. Zacks Research raised shares of Infleqtion to a "hold" rating in a report on Monday, June 29th. B Riley assumed coverage on shares of Infleqtion in a research note on Friday. They set a "buy" rating for the company. Finally, B. Riley Financial began coverage on Infleqtion in a report on Friday, September 4th. They set a "buy" rating and a $23.00 price target on the stock.

Infleqtion Stock Up 6.6%

NYSE:INFQ opened at $13.70 on Wednesday. The stock's 50 day moving average price is $11.62. The stock has a market cap of $3.09 billion, a P/E ratio of -91.33 and a beta of 4.33. Infleqtion has a 52-week low of $8.52 and a 52-week high of $27.50.

Infleqtion (NYSE:INFQ - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The quantum tech company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.04). The business had revenue of $13.54 million during the quarter. Equities research analysts predict that Infleqtion will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling at Infleqtion

In other news, Director Maverick Capital Ltd sold 164,824 shares of the business's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $13.02, for a total value of $2,146,008.48. Following the transaction, the director owned 1,381,233 shares of the company's stock, valued at approximately $17,983,653.66. The trade was a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 250,300 shares of company stock valued at $3,165,428.

Hedge Funds Weigh In On Infleqtion

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC acquired a new position in Infleqtion in the 2nd quarter valued at $56,000. IFP Advisors Inc purchased a new stake in shares of Infleqtion in the second quarter valued at about $221,000. Baird Financial Group Inc. purchased a new stake in shares of Infleqtion in the second quarter valued at about $2,435,000. Arizona State Retirement System acquired a new position in shares of Infleqtion during the second quarter worth about $183,000. Finally, Paragon Capital Management Ltd purchased a new position in Infleqtion during the second quarter worth about $1,253,000.

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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