Infleqtion bags $20 million follow-on contract from NASA; shares up
INFQ•INFQ•INFQ•INFQ•Infleqtion said it aims to develop a space-based quantum gravity sensor using ultracold rubidium atoms to measure Earth’s gravitational variations from orbit.
The company said hardware development will continue through 2027, with a targeted launch in 2030.
All five analysts covering the stock rate it "buy" or above, with a median price target of $22, according to data compiled by LSEG.
As of the last close, the stock was down 13.27% year to date.
Shares of quantum technology company Infleqtion rose more than 5% to $14.27 after NASA awarded the company a $20 million follow-on contract to build a space-based quantum gravity sensor, bringing NASA’s investment in the program to $40 million.
