Infleqtion (NYSE:INFQ – Get Free Report)’s share price fell 2.4% during mid-day trading on Thursday . The company traded as low as $16.64 and last traded at $16.9930. 15,983,113 shares changed hands during mid-day trading, an increase of 93% from the average session volume of 8,272,910 shares. The stock had previously closed at $17.41.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on INFQ. BTIG Research began coverage on shares of Infleqtion in a report on Friday, April 10th. They issued a “buy” rating and a $22.00 price target on the stock. Wall Street Zen raised shares of Infleqtion from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Citigroup started coverage on shares of Infleqtion in a research note on Tuesday, April 14th. They issued a “buy” rating and a $20.00 target price on the stock. Weiss Ratings started coverage on shares of Infleqtion in a research note on Wednesday, May 27th. They issued a “sell (d)” rating on the stock. Finally, UBS Group started coverage on shares of Infleqtion in a research note on Wednesday, April 29th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.
Get Our Latest Analysis on INFQ
Infleqtion Trading Down 2.4%
Infleqtion (NYSE:INFQ – Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The quantum tech company reported ($0.83) EPS for the quarter.
Insider Buying and Selling at Infleqtion
In other Infleqtion news, CEO Matthew John Kinsella sold 545,824 shares of Infleqtion stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $17.19, for a total transaction of $9,382,714.56. Following the transaction, the chief executive officer directly owned 545,824 shares of the company’s stock, valued at approximately $9,382,714.56. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Maverick Capital Ltd sold 6,584,519 shares of Infleqtion stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $14.69, for a total transaction of $96,726,584.11. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 28,041,988 shares of company stock valued at $440,983,618.
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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