Inflection Point Acquisition Corp. III (NASDAQ:IPCX – Get Free Report) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 2,040 shares, a growth of 91.4% from the May 31st total of 1,066 shares. Based on an average daily trading volume, of 60,136 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the company’s shares are sold short.
Institutional Investors Weigh In On Inflection Point Acquisition Corp. III
Several institutional investors and hedge funds have recently added to or reduced their stakes in IPCX. PenderFund Capital Management Ltd. bought a new position in shares of Inflection Point Acquisition Corp. III during the 4th quarter worth approximately $51,000. Cantor Fitzgerald L. P. bought a new stake in Inflection Point Acquisition Corp. III during the third quarter worth $245,000. Virtu Financial LLC purchased a new position in Inflection Point Acquisition Corp. III in the third quarter worth $273,000. Heights Capital Management Inc. purchased a new position in Inflection Point Acquisition Corp. III in the third quarter worth $504,000. Finally, Readystate Asset Management LP bought a new position in Inflection Point Acquisition Corp. III in the 4th quarter valued at $507,000.
Inflection Point Acquisition Corp. III Price Performance
Shares of Inflection Point Acquisition Corp. III stock remained flat at $10.35 on Friday. The stock had a trading volume of 17,605 shares, compared to its average volume of 59,284. The stock’s 50-day simple moving average is $10.31 and its 200 day simple moving average is $10.23. Inflection Point Acquisition Corp. III has a 12-month low of $10.05 and a 12-month high of $10.35.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings upgraded Inflection Point Acquisition Corp. III from a “sell (d-)” rating to a “sell (d)” rating in a research report on Wednesday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.
Read Our Latest Report on IPCX
About Inflection Point Acquisition Corp. III
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.
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