Infleqtion (NYSE:INFQ – Get Free Report)’s stock price traded up 5.8% on Wednesday . The stock traded as high as $10.41 and last traded at $10.4590. 3,031,568 shares were traded during trading, a decline of 69% from the average session volume of 9,672,126 shares. The stock had previously closed at $9.89.
Wall Street Analyst Weigh In
Several research analysts have commented on INFQ shares. UBS Group began coverage on shares of Infleqtion in a research note on Wednesday, April 29th. They set a “buy” rating for the company. Zacks Research upgraded shares of Infleqtion to a “hold” rating in a report on Monday, June 29th. Weiss Ratings assumed coverage on shares of Infleqtion in a research note on Wednesday, May 27th. They set a “sell (d)” rating for the company. Wedbush began coverage on shares of Infleqtion in a report on Friday, June 26th. They set an “outperform” rating and a $20.00 price target on the stock. Finally, Craig Hallum began coverage on shares of Infleqtion in a research report on Wednesday. They issued a “buy” rating and a $19.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.60.
Read Our Latest Report on INFQ
Infleqtion Stock Up 5.6%
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. Research analysts expect that Infleqtion will post -0.47 EPS for the current year.
Insider Activity at Infleqtion
In other news, CTO Pranav Gokhale sold 120,000 shares of Infleqtion stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $17.73, for a total transaction of $2,127,600.00. Following the completion of the sale, the chief technology officer owned 2,218,980 shares of the company’s stock, valued at approximately $39,342,515.40. The trade was a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David B. Singer sold 6,369,163 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $14.69, for a total value of $93,563,004.47. Following the completion of the sale, the director owned 19,761 shares of the company’s stock, valued at $290,289.09. The trade was a 99.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,161,988 shares of company stock valued at $443,111,218 over the last 90 days.
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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