Inflection Point Acquisition Corp. III (NASDAQ:IPCX) Sees Significant Increase in Short Interest

Inflection Point Acquisition Corp. III (NASDAQ:IPCX) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 4,769 shares, an increase of 132.3% from the June 30th total of 2,053 shares. Based on an average daily volume of 35,021 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are short sold.

Inflection Point Acquisition Corp. III Price Performance

Shares of Inflection Point Acquisition Corp. III stock traded down $0.59 on Tuesday, reaching $9.82. The company had a trading volume of 933 shares, compared to its average volume of 64,759. The firm’s 50 day moving average price is $10.35 and its two-hundred day moving average price is $10.26. Inflection Point Acquisition Corp. III has a 52-week low of $8.58 and a 52-week high of $11.50.

Inflection Point Acquisition Corp. III (NASDAQ:IPCX) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.07 earnings per share for the quarter.

Institutional Investors Weigh In On Inflection Point Acquisition Corp. III

A number of institutional investors have recently modified their holdings of the company. AQR Arbitrage LLC purchased a new stake in shares of Inflection Point Acquisition Corp. III in the 3rd quarter valued at $10,585,000. Berkley W R Corp boosted its holdings in Inflection Point Acquisition Corp. III by 198.4% during the 4th quarter. Berkley W R Corp now owns 1,184,193 shares of the company’s stock valued at $12,008,000 after acquiring an additional 787,313 shares during the period. Quarry LP purchased a new position in Inflection Point Acquisition Corp. III during the 4th quarter valued at about $7,241,000. Crossingbridge Advisors LLC acquired a new position in Inflection Point Acquisition Corp. III in the 4th quarter valued at about $6,589,000. Finally, First Trust Capital Management L.P. acquired a new position in Inflection Point Acquisition Corp. III in the 4th quarter valued at about $5,070,000.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IPCX. Benchmark initiated coverage on shares of Inflection Point Acquisition Corp. III in a research note on Tuesday, July 21st. They issued a “speculative buy” rating and a $12.00 price target for the company. Weiss Ratings raised shares of Inflection Point Acquisition Corp. III from a “sell (d-)” rating to a “sell (d)” rating in a research report on Wednesday, July 1st. Finally, Wall Street Zen cut Inflection Point Acquisition Corp. III from a “hold” rating to a “sell” rating in a report on Sunday. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Inflection Point Acquisition Corp. III currently has an average rating of “Hold” and an average price target of $12.00.

Inflection Point Acquisition Corp. III Company Profile

Inflection Point Acquisition Corp. III (NASDAQ: IPCX) is a special purpose acquisition company (SPAC), commonly referred to as a blank?check company, that is organized to raise capital through a public offering for the purpose of effecting a merger, acquisition, capital stock exchange, asset purchase, reorganization or similar business combination. As a SPAC, it does not operate a conventional operating business; instead, its principal objective is to identify and combine with one or more operating businesses that will become publicly listed through the transaction.

Like many SPACs, Inflection Point Acquisition Corp.