Infleqtion Inc. (NYSE:INFQ) stock climbed nearly 5% Thursday as investors returned to growth-focused technology stocks. The Nasdaq gained 0.95%, while the S&P 500 rose 0.54%.
NASA Backs Infleqtion’s Space Quantum Sensor With Another $20 Million
Separately, Infleqtion said Thursday that NASA awarded it a $20 million follow-on contract for a space-based quantum gravity sensor.
The award doubles NASA’s investment in the program to $40 million. Infleqtion will build and test key sensor hardware designed to measure subtle changes in Earth’s gravitational field.
The technology could improve the monitoring of water, ice and natural resources. Development will continue through 2027, with a low-Earth-orbit launch targeted for 2030.
Technical Analysis
Infleqtion traded 15% above its 20-day simple moving average of $12.36. It was also 20.4% above its 50-day SMA of $11.80 and 10.4% above its 100-day SMA of $12.88.
In addition, the 20-day SMA remained above the 50-day average. This bullish alignment suggests that buyers still control the intermediate trend.
The moving average convergence divergence indicator was above its signal line. Its histogram was also positive, signaling stronger upward momentum.
The stock is now attempting to recover ground lost after breaking below support in August. Resistance sits near $14.50, while support is around $13.
Infleqtion Analyst Outlook
Infleqtion carries a consensus Buy rating and an average price forecast of $21.33. Citigroup raised its forecast to $22 on Aug. 21. Wedbush maintained an Outperform rating and a $20 forecast on Aug. 3. Canaccord Genuity initiated coverage with a Buy rating and a $22 forecast on July 2.
ETF Exposure
Infleqtion represents 6.62% of the Defiance Pure Quantum ETF (NASDAQ:QTUP). It also carries a 4.22% weighting in both the Corgi Quantum Computing ETF (NASDAQ:CQTM) and the Corgi Quantum Computing 2x Daily ETF (NASDAQ:XQTM).
As a result, sizable fund flows could trigger additional buying or selling of Infleqtion shares.
Infleqtion Price Action
INFQ Stock Price Activity: Infleqtion shares were up 4.73% at $14.17 at the time of publication on Thursday, according to Benzinga Pro data.
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