Infleqtion $INFQ Shares Acquired by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. grew its holdings in Infleqtion (NYSE:INFQ) by 42.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,045,860 shares of the quantum tech company’s stock after buying an additional 311,280 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.46% of Infleqtion worth $14,088,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Integrated Advisors Network LLC grew its position in shares of Infleqtion by 58.2% in the 3rd 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 during the last quarter. Secure Asset Management LLC increased its stake in shares of Infleqtion by 27.2% during the third quarter. Secure Asset Management LLC now owns 80,920 shares of the quantum tech company’s stock valued at $1,090,000 after buying an additional 17,319 shares during the period. Vontobel Holding Ltd. bought a new position in shares of Infleqtion during the third quarter valued at approximately $649,000. TD Waterhouse Canada Inc. raised its holdings in shares of Infleqtion by 13,114.6% during the third quarter. TD Waterhouse Canada Inc. now owns 137,432 shares of the quantum tech company’s stock valued at $1,836,000 after acquiring an additional 136,392 shares in the last quarter. Finally, Green Alpha Advisors LLC bought a new position in shares of Infleqtion during the third quarter valued at approximately $199,000.

Insider Buying and Selling at Infleqtion

In related 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 transaction of $2,146,008.48. Following the sale, the director directly owned 1,381,233 shares in the company, valued at $17,983,653.66. The trade was a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 250,300 shares of company stock worth $3,165,428 in the last 90 days.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on INFQ shares. Craig Hallum started coverage on Infleqtion in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $19.00 price target for the company. Canaccord Genuity Group started coverage on shares of Infleqtion in a research report on Thursday, July 2nd. They set a “buy” rating and a $22.00 price objective on the stock. Wedbush began coverage on shares of Infleqtion in a report on Monday, August 3rd. They issued an “outperform” rating and a $20.00 price objective for the company. BTIG Research restated a “buy” rating and issued a $25.00 price objective on shares of Infleqtion in a report on Friday, September 25th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Infleqtion in a research report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.43.

Infleqtion Stock Performance

Infleqtion stock opened at $9.28 on Thursday. The firm’s 50 day moving average price is $12.51. The company has a market cap of $2.09 billion, a PE ratio of -61.88 and a beta of 4.26. Infleqtion has a fifty-two week low of $8.38 and a fifty-two week high of $24.22.

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