Baird Financial Group Inc. Acquires Shares of 182,812 Infleqtion $INFQ

Key Points

• Baird Financial Group acquired 182,812 Infleqtion shares worth approximately $2.44 million, representing about 0.08% of the company. Several other institutional investors also initiated or expanded positions during the second quarter.
• Infleqtion reported quarterly revenue of $13.54 million but posted an adjusted loss of $0.11 per share, missing analysts’ estimate of a $0.07 loss. Analysts expect a full-year loss of $0.23 per share.
• The stock opened at $13.89, well below its 12-month high of $27.50. Despite recent insider selling, analysts maintain a consensus “Moderate Buy” rating with a $21.33 price target.

Baird Financial Group Inc. bought a new stake in shares of Infleqtion (NYSE:INFQ - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 182,812 shares of the quantum tech company's stock, valued at approximately $2,435,000. Baird Financial Group Inc. owned approximately 0.08% of Infleqtion at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of INFQ. S&G Foundation acquired a new position in shares of Infleqtion in the second quarter worth about $154,164,000. Davis Asset Management L.P. acquired a new stake in Infleqtion during the 2nd quarter valued at approximately $27,783,000. Bank of New York Mellon Corp increased its holdings in Infleqtion by 1,350.7% during the 2nd 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. Wellington Management Group LLP purchased a new stake in Infleqtion during the 2nd quarter worth approximately $3,708,000. Finally, Paragon Capital Management Ltd acquired a new position in shares of Infleqtion in the 2nd quarter valued at approximately $1,253,000.

Infleqtion Price Performance

Shares of INFQ opened at $13.89 on Friday. The stock's fifty day moving average price is $11.76. Infleqtion has a 12-month low of $8.52 and a 12-month high of $27.50. The company has a market capitalization of $3.13 billion, a PE ratio of -92.57 and a beta of 4.33.

Infleqtion (NYSE:INFQ - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The quantum tech company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.04). The business had revenue of $13.54 million for the quarter. Sell-side analysts predict that Infleqtion will post -0.23 EPS for the current year.

Insider Activity at Infleqtion

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

Wall Street Analyst Weigh In

INFQ has been the subject of a number of recent analyst reports. Citigroup raised their price target on shares of Infleqtion from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, August 21st. Zacks Research raised shares of Infleqtion to a "hold" rating in a report on Monday, June 29th. Weiss Ratings reiterated a "sell (d)" rating on shares of Infleqtion in a research note on Monday, August 24th. Wedbush began coverage on shares of Infleqtion in a report on Monday, August 3rd. They set an "outperform" rating and a $20.00 price objective for the company. Finally, Wall Street Zen raised shares of 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 assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.33.

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.

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