Infleqtion (NYSE:INFQ) Director Maverick Capital Ltd Sells 164,824 Shares

Key Points

• Maverick Capital sold 164,824 Infleqtion shares at an average price of $13.02, generating approximately $2.15 million and reducing its position by 10.66% to 1.38 million shares. The firm has made several recent sales, including 1.8 million shares sold in May.
• Infleqtion shares rose to $14.08 during Friday trading, with volume significantly above average. The stock has traded between $8.52 and $27.50 over the past year.
• The company reported a quarterly loss of $0.11 per share, missing the consensus estimate of a $0.07 loss, on revenue of $13.54 million. Analysts maintain a consensus “Moderate Buy” rating with a $21.00 price target, though ratings range from “Strong Buy” to “Sell.”

Infleqtion (NYSE:INFQ - Get Free Report) Director Maverick Capital Ltd sold 164,824 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $13.02, for a total value of $2,146,008.48. Following the sale, the director directly owned 1,381,233 shares of the company's stock, valued at approximately $17,983,653.66. This trade represents a 10.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Maverick Capital Ltd also recently made the following trade(s):

• On Wednesday, August 19th, Maverick Capital Ltd sold 33,405 shares of Infleqtion stock. The stock was sold at an average price of $12.62, for a total value of $421,571.10.
• On Thursday, August 13th, Maverick Capital Ltd sold 1,609 shares of Infleqtion stock. The stock was sold at an average price of $12.19, for a total value of $19,613.71.
• On Tuesday, August 11th, Maverick Capital Ltd sold 1,079 shares of Infleqtion stock. The shares were sold at an average price of $11.82, for a total value of $12,753.78.
• On Monday, August 10th, Maverick Capital Ltd sold 5,488 shares of Infleqtion stock. The stock was sold at an average price of $11.69, for a total transaction of $64,154.72.
• On Friday, August 7th, Maverick Capital Ltd sold 6,346 shares of Infleqtion stock. The stock was sold at an average price of $11.87, for a total transaction of $75,327.02.
• On Thursday, August 6th, Maverick Capital Ltd sold 8,057 shares of Infleqtion stock. The shares were sold at an average price of $11.09, for a total value of $89,352.13.
• On Wednesday, August 5th, Maverick Capital Ltd sold 1,324 shares of Infleqtion stock. The shares were sold at an average price of $10.88, for a total value of $14,405.12.
• On Tuesday, August 4th, Maverick Capital Ltd sold 28,168 shares of Infleqtion stock. The shares were sold at an average price of $11.44, for a total transaction of $322,241.92.
• On Friday, August 14th, Maverick Capital Ltd purchased 52,071 shares of Infleqtion stock. The stock was bought at an average cost of $12.42 per share, for a total transaction of $646,721.82.
• On Friday, May 29th, Maverick Capital Ltd sold 1,797,637 shares of Infleqtion stock. The stock was sold at an average price of $16.10, for a total value of $28,941,955.70.

Infleqtion Price Performance

Infleqtion stock traded up $1.53 during mid-day trading on Friday, reaching $14.08. The stock had a trading volume of 15,330,819 shares, compared to its average volume of 9,503,794. Infleqtion has a one year low of $8.52 and a one year high of $27.50. The company's 50-day moving average price is $11.78.

Infleqtion (NYSE:INFQ - Get Free Report) last issued its 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 business had revenue of $13.54 million during the quarter. On average, equities analysts expect that Infleqtion will post -0.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on INFQ. Wall Street Zen downgraded Infleqtion from a "sell" rating to a "strong sell" rating in a report on Saturday, July 18th. Weiss Ratings assumed coverage on shares of Infleqtion in a report on Wednesday, May 27th. They set a "sell (d)" rating on the stock. UBS Group started coverage on shares of Infleqtion in a report on Wednesday, April 29th. They set a "buy" rating on the stock. Wedbush started coverage on shares of Infleqtion in a research note on Monday, August 3rd. They issued an "outperform" rating and a $20.00 price target for the company. Finally, Zacks Research raised shares of Infleqtion to a "hold" rating in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $21.00.

Institutional Trading of Infleqtion

Several institutional investors have recently made changes to their positions in the business. Secure Asset Management LLC purchased a new position in Infleqtion in the 2nd quarter worth approximately $847,000. Wellington Management Group LLP purchased a new position in Infleqtion during the second quarter valued at $3,708,000. Bank of New York Mellon Corp increased its holdings in 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 last quarter. Davis Asset Management L.P. purchased a new stake in Infleqtion in the 2nd quarter worth $27,783,000. Finally, S&G Foundation bought a new position in shares of Infleqtion during the 2nd quarter valued at about $154,164,000.

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.

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