Infleqtion (NYSE:INFQ) Trading 2% Higher – Still a Buy?

Shares of Infleqtion (NYSE:INFQ) rose 2% during mid-day trading on Monday . The company traded as high as $15.44 and last traded at $14.8450. Approximately 14,081,632 shares traded hands during trading, an increase of 67% from the average daily volume of 8,431,621 shares. The stock had previously closed at $14.56.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Citigroup started coverage on shares of Infleqtion in a research note on Tuesday, April 14th. They set a “buy” rating and a $20.00 target price on the stock. Wall Street Zen upgraded Infleqtion from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. BTIG Research began coverage on Infleqtion in a report on Friday, April 10th. They issued a “buy” rating and a $22.00 target price for the company. UBS Group started coverage on Infleqtion in a research report on Wednesday, April 29th. They issued a “buy” rating for the company. Finally, Weiss Ratings initiated coverage on Infleqtion in a research note on Wednesday, May 27th. They issued a “sell (d)” rating for the company. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Infleqtion Price Performance

The firm has a market cap of $3.24 billion and a P/E ratio of -164.94.

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

Insiders Place Their Bets

In other Infleqtion news, Director Kristina M. Johnson sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $16.45, for a total value of $493,500.00. Following the transaction, the director directly owned 30,000 shares of the company’s stock, valued at approximately $493,500. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David B. Singer sold 1,797,637 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $16.10, for a total transaction of $28,941,955.70. The SEC filing for this sale provides additional information. Insiders sold a total of 28,161,988 shares of company stock valued at $443,111,218 in 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.