Infleqtion (NYSE:INFQ – Get Free Report) has received an average rating of “Moderate Buy” from the nine brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $21.83.
INFQ has been the topic of a number of analyst reports. Zacks Research upgraded shares of Infleqtion to a “hold” rating in a report on Monday, June 29th. BTIG Research reiterated a “buy” rating and set a $25.00 price target on shares of Infleqtion in a research note on Friday, September 25th. Weiss Ratings reissued a “sell (d)” rating on shares of Infleqtion in a report on Monday, August 24th. B. Riley Financial started coverage on Infleqtion in a research note on Friday, September 4th. They issued a “buy” rating for the company. Finally, Craig Hallum assumed coverage on Infleqtion in a report on Wednesday, July 22nd. They issued a “buy” rating and a $19.00 target price on the stock.
View Our Latest Stock Report on Infleqtion
Infleqtion Stock Performance
Infleqtion (NYSE:INFQ – Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The quantum tech company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.04). The company had revenue of $13.54 million for the quarter. On average, equities analysts expect that Infleqtion will post -0.23 EPS for the current year.
Insider Buying and Selling
In other Infleqtion news, Director Maverick Capital Ltd sold 164,824 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $13.02, for a total transaction of $2,146,008.48. Following the transaction, the director directly owned 1,381,233 shares in the company, valued at approximately $17,983,653.66. This trade represents a 10.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 250,300 shares of company stock valued at $3,165,428.
Institutional Trading of Infleqtion
Several institutional investors and hedge funds have recently made changes to their positions in INFQ. S&G Foundation purchased a new position in Infleqtion during the second quarter worth about $154,164,000. Davis Asset Management L.P. bought a new position in shares of Infleqtion during the 2nd quarter worth approximately $27,783,000. Bank of New York Mellon Corp boosted its stake in shares of Infleqtion by 1,350.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,076,802 shares of the quantum tech company’s stock worth $14,343,000 after buying an additional 1,002,576 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Infleqtion in the second quarter valued at approximately $3,708,000. Finally, Baird Financial Group Inc. bought a new position in shares of Infleqtion in the second quarter valued at approximately $2,435,000.
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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