Infleqtion (NYSE:INFQ) Shares Gap Up – Should You Buy?

Shares of Infleqtion (NYSE:INFQ) gapped up prior to trading on Thursday . The stock had previously closed at $12.93, but opened at $13.69. Infleqtion shares last traded at $14.3630, with a volume of 4,292,467 shares changing hands.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wedbush assumed coverage on shares of Infleqtion in a report on Friday, June 26th. They set an “outperform” rating and a $20.00 price target on the stock. BTIG Research began 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. Wall Street Zen upgraded Infleqtion from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. Weiss Ratings began coverage on Infleqtion in a report on Wednesday, May 27th. They issued a “sell (d)” rating for the company. Finally, Citigroup initiated coverage on Infleqtion in a research report on Tuesday, April 14th. They set a “buy” rating and a $20.00 price target for the company. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.00.

Infleqtion Stock Performance

The business’s 50-day moving average price is $14.08. The company has a market cap of $2.94 billion and a P/E ratio of -149.53.

Infleqtion (NYSE:INFQ) last announced its quarterly earnings data on Tuesday, March 31st. The quantum tech company reported ($0.83) EPS for the quarter. As a group, sell-side analysts forecast that Infleqtion will post -0.47 EPS for the current fiscal year.

Insider Activity at Infleqtion

In other Infleqtion news, Director David B. Singer sold 1,797,637 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Paul Lipman sold 100,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $15.83, for a total value of $1,583,000.00. Following the completion of the sale, the executive directly owned 100,000 shares of the company’s stock, valued at $1,583,000. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,161,988 shares of company stock worth $443,111,218 over the last 90 days.

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.