243,735 Infleqtion $INFQ Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its stake in Infleqtion (NYSE:INFQ) by 60.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 160,779 shares of the quantum tech company’s stock after selling 243,735 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Infleqtion were worth $2,166,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp increased its position in Infleqtion by 1,350.7% during the second quarter. Bank of New York Mellon Corp now owns 1,076,802 shares of the quantum tech company’s stock worth $14,343,000 after purchasing an additional 1,002,576 shares during the last quarter. S&G Foundation acquired a new position in Infleqtion in the 2nd quarter worth $154,164,000. Baird Financial Group Inc. purchased a new position in Infleqtion in the second quarter valued at about $2,435,000. Integrated Advisors Network LLC grew its position in shares of Infleqtion by 58.2% during the third quarter. Integrated Advisors Network LLC now owns 724,335 shares of the quantum tech company’s stock worth $9,757,000 after buying an additional 266,602 shares in the last quarter. Finally, Davis Asset Management L.P. acquired a new position in Infleqtion during the 2nd quarter worth $27,783,000.

Infleqtion Trading Down 5.9%

INFQ opened at $8.87 on Friday. The stock has a 50 day moving average of $12.00. Infleqtion has a twelve month low of $8.38 and a twelve month high of $21.28. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -59.13 and a beta of 4.26.

Infleqtion (NYSE:INFQ) last announced its earnings results on Wednesday, August 12th. The quantum tech company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.04). The company had revenue of $13.54 million for the quarter. On average, research analysts expect that Infleqtion will post -0.24 EPS for the current year.

Analyst Ratings Changes

INFQ has been the topic of a number of research reports. Wall Street Zen raised shares of Infleqtion from a “strong sell” rating to a “sell” rating in a report on Sunday. Wedbush started coverage on shares of Infleqtion in a research note on Monday, August 3rd. They set an “outperform” rating and a $20.00 target price on the stock. B. Riley Financial assumed coverage on Infleqtion in a report on Friday, September 4th. They issued a “buy” rating for the company. BTIG Research reaffirmed a “buy” rating and issued a $25.00 price target on shares of Infleqtion in a report on Friday, September 25th. Finally, Citigroup boosted their target price on shares of Infleqtion from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Infleqtion has a consensus rating of “Moderate Buy” and a consensus target price of $20.43.

Insider Activity

In other news, Director Maverick Capital Ltd sold 164,824 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 1,381,233 shares of the company’s stock, valued at approximately $17,983,653.66. This trade represents a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 250,300 shares of company stock worth $3,165,428 over the last three months.

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.