Infleqtion (NYSE:INFQ) CTO Pranav Gokhale Sells 120,000 Shares

Infleqtion (NYSE:INFQ – Get Free Report) CTO Pranav Gokhale sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $17.73, for a total transaction of $2,127,600.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Infleqtion Stock Performance

Infleqtion stock traded down $2.39 during mid-day trading on Friday, hitting $14.56. 19,098,391 shares of the stock were exchanged, compared to its average volume of 8,375,080. Infleqtion has a 12 month low of $8.52 and a 12 month high of $27.50. The firm has a market cap of $3.18 billion and a price-to-earnings ratio of -161.73.

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Infleqtion (NYSE:INFQ – Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The quantum tech company reported ($0.83) earnings per share (EPS) for the quarter.

Analysts Set New Price Targets

INFQ has been the subject of several research analyst reports. BTIG Research initiated coverage on shares of Infleqtion in a research note on Friday, April 10th. They issued a “buy” rating and a $22.00 price objective for the company. Weiss Ratings initiated coverage on shares of Infleqtion in a research note on Wednesday, May 27th. They issued a “sell (d)” rating for the company. UBS Group initiated coverage on shares of Infleqtion in a research note on Wednesday, April 29th. They issued a “buy” rating for the company. Citigroup initiated coverage on shares of Infleqtion in a research note on Tuesday, April 14th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Infleqtion from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Infleqtion currently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Read Our Latest Stock Analysis on Infleqtion

Infleqtion Company Profile

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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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