Craig Hallum Begins Coverage on Infleqtion (NYSE:INFQ)

Key Points

• Craig Hallum initiated coverage on Infleqtion with a buy rating and a $19 price target, implying about 93% upside from the current share price.
• Overall analyst sentiment remains constructive, with an average rating of Moderate Buy and an average price target of $20.60, though one firm recently downgraded the stock to strong sell.
• Infleqtion shares were trading at $9.83 on Wednesday, while recent insider activity showed significant selling, including a large stake sale by Maverick Capital Ltd.

Analysts at Craig Hallum assumed coverage on shares of Infleqtion (NYSE:INFQ - Get Free Report) in a research report issued on Wednesday. The brokerage set a "buy" rating and a $19.00 price target on the quantum tech company's stock. Craig Hallum's price target indicates a potential upside of 93.23% from the company's current price.

A number of other brokerages have also recently weighed in on INFQ. Zacks Research upgraded Infleqtion to a "hold" rating in a research note on Monday, June 29th. Wall Street Zen lowered shares of Infleqtion from a "sell" rating to a "strong sell" rating in a research report on Saturday. BTIG Research initiated coverage on shares of Infleqtion in a report on Friday, April 10th. They issued a "buy" rating and a $22.00 target price on the stock. UBS Group assumed coverage on shares of Infleqtion in a research report on Wednesday, April 29th. They set a "buy" rating on the stock. Finally, Canaccord Genuity Group began coverage on shares of Infleqtion in a research note on Thursday, July 2nd. They issued a "buy" rating and a $22.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Infleqtion has an average rating of "Moderate Buy" and an average price target of $20.60.

Infleqtion Stock Performance

Shares of INFQ stock opened at $9.83 on Wednesday. The business's 50-day moving average price is $13.43. Infleqtion has a 1 year low of $8.52 and a 1 year high of $27.50. The stock has a market capitalization of $2.15 billion and a price-to-earnings ratio of -109.26.

Infleqtion (NYSE:INFQ - Get Free Report) last posted its earnings results on Tuesday, March 31st. The quantum tech company reported ($0.83) earnings per share for the quarter. On average, research analysts forecast that Infleqtion will post -0.47 EPS for the current fiscal year.

Insider Transactions at Infleqtion

In related news, Director Maverick Capital Ltd sold 1,797,637 shares of the company's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $16.10, for a total transaction of $28,941,955.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kristina M. Johnson sold 30,000 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $16.45, for a total value of $493,500.00. Following the completion of the transaction, the director owned 30,000 shares of the company's stock, valued at $493,500. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 28,161,988 shares of company stock valued at $443,111,218.

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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