Oppenheimer & Co. Inc. Sells 243,735 Shares of Infleqtion $INFQ

Oppenheimer & Co. Inc. cut its holdings in shares of Infleqtion (NYSE:INFQ) by 60.3% in the third quarter, according to its most recent filing with the Securities and 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. owned 0.07% of Infleqtion worth $2,166,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of INFQ. S&G Foundation acquired a new position in shares of Infleqtion in the 2nd quarter valued at $154,164,000. Davis Asset Management L.P. acquired a new stake in Infleqtion during the second quarter valued at $27,783,000. Bank of New York Mellon Corp grew 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 valued at $14,343,000 after buying an additional 1,002,576 shares during the period. Pinnacle Associates Ltd. grew its position in Infleqtion by 42.4% during the third quarter. Pinnacle Associates Ltd. now owns 1,045,860 shares of the quantum tech company’s stock valued at $14,088,000 after buying an additional 311,280 shares during the period. Finally, Integrated Advisors Network LLC increased its holdings in Infleqtion by 58.2% in the third quarter. Integrated Advisors Network LLC now owns 724,335 shares of the quantum tech company’s stock valued at $9,757,000 after buying an additional 266,602 shares in the last quarter.

Insiders Place Their Bets

In other Infleqtion news, Director Maverick Capital Ltd sold 164,824 shares of Infleqtion stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $13.02, for a total value of $2,146,008.48. Following the transaction, the director directly owned 1,381,233 shares in the company, valued at approximately $17,983,653.66. This trade represents a 10.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 250,300 shares of company stock worth $3,165,428.

Wall Street Analysts Forecast Growth

INFQ has been the subject of a number of research analyst reports. Craig Hallum started coverage on shares of Infleqtion in a research report on Wednesday, July 22nd. They set a “buy” rating and a $19.00 price objective for the company. B. Riley Financial assumed coverage on shares of Infleqtion in a research report on Friday, September 4th. They set a “buy” rating for the company. Wedbush began coverage on shares of Infleqtion in a research report on Monday, August 3rd. They issued an “outperform” rating and a $20.00 target price on the stock. Morgan Stanley assumed coverage on shares of Infleqtion in a research note on Thursday, October 15th. They set an “equal weight” rating and a $12.00 target price for the company. Finally, Wall Street Zen upgraded shares of Infleqtion from a “strong sell” rating to a “sell” rating in a research report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.43.

Infleqtion Trading Down 5.9%

Shares of NYSE:INFQ opened at $8.87 on Friday. Infleqtion has a fifty-two week low of $8.38 and a fifty-two week high of $21.28. The company has a 50 day moving average price of $12.00. The firm has a market capitalization of $2.00 billion, a PE ratio of -59.13 and a beta of 4.26.

Infleqtion (NYSE:INFQ) last announced 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 business had revenue of $13.54 million during the quarter. On average, research analysts predict that Infleqtion will post -0.24 EPS for the current fiscal year.

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.