Infleqtion (NYSE:INFQ – Get Free Report)’s stock price was up 8.6% on Tuesday . The company traded as high as $14.29 and last traded at $13.9490. Approximately 2,917,236 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 9,557,062 shares. The stock had previously closed at $12.85.
Analysts Set New Price Targets
A number of equities analysts have commented on INFQ shares. Citigroup upped their price objective on shares of Infleqtion from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. Craig Hallum started coverage on shares of Infleqtion in a report on Wednesday, July 22nd. They issued a “buy” rating and a $19.00 target price on the stock. Wall Street Zen upgraded shares of Infleqtion from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 22nd. B Riley started coverage on shares of Infleqtion in a report on Friday. They set a “buy” rating for the company. Finally, Zacks Research upgraded Infleqtion to a “hold” rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.33.
Read Our Latest Stock Report on Infleqtion
Infleqtion Stock Performance
Infleqtion (NYSE:INFQ – Get Free Report) last issued its earnings results on Wednesday, August 12th. The quantum tech company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). The business had revenue of $13.54 million for the quarter. On average, equities analysts expect that Infleqtion will post -0.24 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director Maverick Capital Ltd sold 164,824 shares of the firm’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 completion of the transaction, the director directly owned 1,381,233 shares of the company’s stock, valued at $17,983,653.66. This trade represents a 10.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 250,300 shares of company stock valued at $3,165,428.
Institutional Trading of Infleqtion
Large investors have recently bought and sold shares of the company. Straight Path Wealth Management acquired a new position in shares of Infleqtion during the 2nd quarter worth $193,000. Investor s Fiduciary Advisor Network LLC purchased a new stake in shares of Infleqtion in the 2nd quarter worth about $194,000. Corient Private Wealth LP acquired a new stake in Infleqtion in the 2nd quarter valued at about $739,000. Secure Asset Management LLC acquired a new stake in Infleqtion in the 2nd quarter valued at about $847,000. Finally, Wellington Management Group LLP purchased a new position in Infleqtion during the 2nd quarter valued at about $3,708,000.
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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