Paragon Capital Management Ltd Takes $1.25 Million Position in Infleqtion $INFQ

Paragon Capital Management Ltd bought a new position in shares of Infleqtion (NYSE:INFQ) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 94,080 shares of the quantum tech company’s stock, valued at approximately $1,253,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of Infleqtion by 1,350.7% in the 2nd 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 purchasing an additional 1,002,576 shares in the last quarter. Davis Asset Management L.P. acquired a new stake in Infleqtion in the second quarter valued at $27,783,000. S&G Foundation purchased a new stake in Infleqtion during the 2nd quarter worth about $154,164,000. Wellington Management Group LLP purchased a new stake in Infleqtion during the 2nd quarter worth about $3,708,000. Finally, Secure Asset Management LLC acquired a new position in shares of Infleqtion during the 2nd quarter worth about $847,000.

Insider Activity

In other Infleqtion news, Director Maverick Capital Ltd sold 164,824 shares of the firm’s stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 250,300 shares of company stock valued at $3,165,428.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Citigroup upped their price target on Infleqtion from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, August 21st. Canaccord Genuity Group initiated coverage on shares of Infleqtion in a report on Thursday, July 2nd. They issued a “buy” rating and a $22.00 target price on the stock. Craig Hallum assumed coverage on shares of Infleqtion in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $19.00 price target for the company. B Riley started coverage on shares of Infleqtion in a research report on Friday. They set a “buy” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Infleqtion in a report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Infleqtion presently has an average rating of “Moderate Buy” and a consensus price target of $21.33.

Infleqtion Stock Up 6.6%

NYSE:INFQ traded up $0.85 during mid-day trading on Tuesday, reaching $13.70. The stock had a trading volume of 15,426,545 shares, compared to its average volume of 9,640,600. The firm’s 50 day moving average price is $11.62. Infleqtion has a twelve month low of $8.52 and a twelve month high of $27.50. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of -91.33 and a beta of 4.33.

Infleqtion (NYSE:INFQ) last posted its quarterly 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 firm had revenue of $13.54 million during the quarter. On average, equities research analysts forecast that Infleqtion will post -0.24 earnings per share for the current year.

About Infleqtion

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.