Infleqtion $INFQ Shares Purchased by Steinberganna Wealth Management

Steinberganna Wealth Management boosted its holdings in shares of Infleqtion (NYSE:INFQ) by 65.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,260 shares of the quantum tech company’s stock after acquiring an additional 66,877 shares during the quarter. Infleqtion accounts for about 1.0% of Steinberganna Wealth Management’s portfolio, making the stock its 19th largest position. Steinberganna Wealth Management owned 0.08% of Infleqtion worth $2,280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sterling Capital Management LLC raised its stake in shares of Infleqtion by 116.2% during the third quarter. Sterling Capital Management LLC now owns 2,908 shares of the quantum tech company’s stock valued at $39,000 after acquiring an additional 1,563 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Infleqtion during the second quarter worth $41,000. NewEdge Advisors LLC bought a new stake in shares of Infleqtion in the second quarter worth $56,000. McGuire Investment Group LLC grew its stake in shares of Infleqtion by 37.4% in the third quarter. McGuire Investment Group LLC now owns 36,865 shares of the quantum tech company’s stock worth $497,000 after purchasing an additional 10,040 shares during the last quarter. Finally, Arizona State Retirement System bought a new stake in shares of Infleqtion in the second quarter worth $183,000.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Morgan Stanley set a $12.00 price objective on Infleqtion and gave the company an “equal weight” rating in a report on Thursday, October 15th. Citigroup lifted their target price on Infleqtion from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, August 21st. B. Riley Financial began coverage on Infleqtion in a report on Friday, September 4th. They set a “buy” rating on the stock. BTIG Research reiterated a “buy” rating and issued a $25.00 price target on shares of Infleqtion in a research report on Friday, September 25th. Finally, Wedbush assumed coverage on Infleqtion in a research note on Monday, August 3rd. They issued an “outperform” rating and a $20.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Infleqtion currently has a consensus rating of “Moderate Buy” and an average price target of $20.43.

Infleqtion Price Performance

NYSE:INFQ opened at $8.77 on Monday. Infleqtion has a fifty-two week low of $8.38 and a fifty-two week high of $24.22. The firm’s 50 day moving average price is $12.36. The firm has a market cap of $1.98 billion, a P/E ratio of -58.43 and a beta of 4.26.

Infleqtion (NYSE:INFQ) last issued its quarterly earnings results on Wednesday, August 12th. The quantum tech company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). The firm had revenue of $13.54 million for the quarter. As a group, research analysts expect that Infleqtion will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling at Infleqtion

In related news, Director Maverick Capital Ltd sold 164,824 shares of Infleqtion stock in a transaction on Friday, August 21st. The shares were sold at an average price of $13.02, for a total transaction of $2,146,008.48. Following the completion of the transaction, the director 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 250,300 shares of company stock worth $3,165,428 in the last ninety days.

Infleqtion 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.