Infleqtion (NYSE:INFQ) Shares Gap Up – What’s Next?

Infleqtion (NYSE:INFQGet Free Report)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $14.06, but opened at $14.94. Infleqtion shares last traded at $14.2780, with a volume of 3,391,566 shares trading hands.

Wall Street Analysts Forecast Growth

INFQ has been the subject of a number of recent research reports. Craig Hallum assumed coverage on shares of Infleqtion in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $19.00 price target for the company. Wall Street Zen upgraded shares of Infleqtion from a “strong sell” rating to a “sell” rating in a report on Saturday, August 22nd. Zacks Research upgraded shares of Infleqtion to a “hold” rating in a report on Monday, June 29th. Wedbush began coverage on shares of Infleqtion in a research report on Monday, August 3rd. They set an “outperform” rating and a $20.00 price objective for the company. Finally, B. Riley Financial began coverage on shares of Infleqtion in a research note on Friday, September 4th. They set a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.33.

Check Out Our Latest Report on Infleqtion

Infleqtion Price Performance

The firm has a market capitalization of $3.15 billion, a PE ratio of -93.08 and a beta of 4.33. The business’s fifty day moving average is $11.95.

Infleqtion (NYSE:INFQGet Free Report) last released its quarterly earnings data on Wednesday, August 12th. The quantum tech company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). The business had revenue of $13.54 million for the quarter. Equities analysts predict that Infleqtion will post -0.23 earnings per share for the current fiscal year.

Insider Activity at Infleqtion

In related news, Director Maverick Capital Ltd sold 164,824 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $13.02, for a total value of $2,146,008.48. Following 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 filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 250,300 shares of company stock valued at $3,165,428.

Hedge Funds Weigh In On Infleqtion

Several large investors have recently bought and sold shares of INFQ. S&G Foundation acquired a new stake in shares of Infleqtion during the second quarter worth about $154,164,000. Davis Asset Management L.P. purchased a new position in Infleqtion during the 2nd quarter worth approximately $27,783,000. Bank of New York Mellon Corp increased its position in Infleqtion by 1,350.7% during the second 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 period. Wellington Management Group LLP acquired a new position in Infleqtion during the second quarter worth approximately $3,708,000. Finally, Baird Financial Group Inc. purchased a new stake in Infleqtion in the second quarter valued at approximately $2,435,000.

Infleqtion Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Infleqtion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infleqtion and related companies with MarketBeat.com's FREE daily email newsletter.