Paragon Capital Management Ltd Buys New Stake in Infleqtion $INFQ

Paragon Capital Management Ltd bought a new position in shares of Infleqtion (NYSE:INFQ - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 94,080 shares of the quantum tech company's stock, valued at approximately $1,253,000.

• 3 Lesser-Known Quantum Plays the Market May Be Overlooking Right Now

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. S&G Foundation purchased a new stake in Infleqtion during the 2nd quarter worth approximately $154,164,000. Davis Asset Management L.P. purchased a new stake in shares of Infleqtion during the second quarter valued at $27,783,000. Bank of New York Mellon Corp increased its position 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 acquiring an additional 1,002,576 shares during the period. California State Teachers Retirement System acquired a new stake in Infleqtion during the 2nd quarter worth about $10,115,000. Finally, Wellington Management Group LLP purchased a new stake in Infleqtion in the second quarter valued at approximately $3,708,000.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on INFQ shares. Zacks Research upgraded Infleqtion to a "hold" rating in a research report on Monday, June 29th. Citigroup upped their target price on Infleqtion from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, August 21st. Canaccord Genuity Group initiated coverage on shares of Infleqtion in a research report on Thursday, July 2nd. They set a "buy" rating and a $22.00 price target for the company. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Infleqtion in a research note on Monday, August 24th. Finally, Wall Street Zen upgraded Infleqtion from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $21.33.

• The Quantum Race Is Heating Up—And 2 Small Players Stand Out

Check Out Our Latest Analysis on INFQ

Insider Buying and Selling at Infleqtion

In related news, Director Maverick Capital Ltd sold 164,824 shares of the stock in a transaction dated 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 transaction, the director owned 1,381,233 shares of the company's stock, valued at approximately $17,983,653.66. This represents a 10.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 250,300 shares of company stock valued at $3,165,428 over the last ninety days.

Infleqtion Stock Performance

• Quantum Computing's Commercial Breakout Has Arrived

Shares of Infleqtion stock traded up $0.85 during trading hours on Tuesday, hitting $13.70. The company's stock had a trading volume of 15,426,545 shares, compared to its average volume of 9,640,600. The company's fifty day simple moving average is $11.62. Infleqtion has a twelve month low of $8.52 and a twelve month high of $27.50. The company has a market cap of $3.09 billion, a PE ratio of -91.33 and a beta of 4.33.

Infleqtion (NYSE:INFQ - Get Free Report) last released 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. Equities analysts predict that Infleqtion will post -0.24 earnings per share for the current year.

Infleqtion Company Profile

(Free Report)

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.

Featured Stories

• Five stocks we like better than Infleqtion
• Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
• Despite Post-Earnings Drop, Wall Street Analysts Eye New Highs for Broadcom Stock
• Morgan Stanley Eyes Good Things Ahead for Meta After $18 Billion Legal Settlement
• Q3 Earnings Could Be the Catalyst the Market Has Been Waiting For

Want to see what other hedge funds are holding INFQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Infleqtion (NYSE:INFQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Infleqtion Right Now?

Before you consider Infleqtion, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Infleqtion wasn't on the list.

While Infleqtion currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here