Inflection Point Acquisition Corp. III (NASDAQ:IPCX – Get Free Report) was upgraded by equities researchers at Benchmark to a “moderate buy” rating in a research note issued on Tuesday,Zacks.com reports.
A number of other equities analysts have also weighed in on IPCX. Weiss Ratings upgraded 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. Wall Street Zen upgraded shares of Inflection Point Acquisition Corp. III to a “hold” rating in a research report on Saturday, July 18th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Inflection Point Acquisition Corp. III has a consensus rating of “Hold” and an average target price of $12.00.
Read Our Latest Report on Inflection Point Acquisition Corp. III
Inflection Point Acquisition Corp. III Stock Down 0.1%
Inflection Point Acquisition Corp. III (NASDAQ:IPCX – Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.07 earnings per share (EPS) for the quarter.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PenderFund Capital Management Ltd. bought a new position in shares of Inflection Point Acquisition Corp. III during the 4th quarter valued at about $51,000. Geode Capital Management LLC increased its holdings in shares of Inflection Point Acquisition Corp. III by 11.4% in the fourth quarter. Geode Capital Management LLC now owns 65,585 shares of the company’s stock worth $665,000 after purchasing an additional 6,708 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of Inflection Point Acquisition Corp. III by 12.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 180,000 shares of the company’s stock worth $1,825,000 after purchasing an additional 20,025 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Inflection Point Acquisition Corp. III in the third quarter worth about $273,000. Finally, K2 Principal Fund L.P. lifted its position in shares of Inflection Point Acquisition Corp. III by 11.5% in the fourth quarter. K2 Principal Fund L.P. now owns 276,543 shares of the company’s stock worth $2,804,000 after buying an additional 28,477 shares in the last quarter.
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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