Inflection Point Acquisition Corp. III (NASDAQ:IPCX) Short Interest Update

Inflection Point Acquisition Corp. III (NASDAQ:IPCX) was the target of a large growth in short interest in July. As of July 31st, there was short interest totaling 22,290 shares, a growth of 367.4% from the July 15th total of 4,769 shares. Based on an average daily volume of 108,775 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the company’s stock are sold short.

Inflection Point Acquisition Corp. III Stock Down 14.5%

Shares of IPCX stock traded down $0.79 on Wednesday, hitting $4.65. 18,744 shares of the stock were exchanged, compared to its average volume of 68,552. Inflection Point Acquisition Corp. III has a fifty-two week low of $3.77 and a fifty-two week high of $11.50. The business has a 50-day moving average of $9.46 and a 200 day moving average of $9.96.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in shares of Inflection Point Acquisition Corp. III during the 3rd quarter worth about $273,000. AQR Arbitrage LLC bought a new stake in Inflection Point Acquisition Corp. III during the third quarter worth about $10,585,000. Schonfeld Strategic Advisors LLC bought a new stake in Inflection Point Acquisition Corp. III during the third quarter worth about $1,611,000. Moore Capital Management LP acquired a new position in Inflection Point Acquisition Corp. III during the third quarter valued at approximately $1,510,000. Finally, Millennium Management LLC boosted its position in Inflection Point Acquisition Corp. III by 32.5% during the third quarter. Millennium Management LLC now owns 264,877 shares of the company’s stock valued at $2,667,000 after purchasing an additional 65,015 shares during the last quarter.

Analyst Ratings Changes

A number of analysts recently issued reports on IPCX shares. Wall Street Zen cut Inflection Point Acquisition Corp. III from a “hold” rating to a “sell” rating in a research note on Sunday, July 26th. Benchmark initiated coverage on shares of Inflection Point Acquisition Corp. III in a report on Tuesday, July 21st. They issued a “speculative buy” rating and a $12.00 price target for the company. Finally, Weiss Ratings upgraded shares of Inflection Point Acquisition Corp. III from a “sell (d-)” rating to a “sell (d)” rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.