Inflection Point Acquisition Corp. III (NASDAQ:IPCX – Get Free Report) was the target of a significant 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. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 108,775 shares, the short-interest ratio is currently 0.2 days.
Institutional Trading of Inflection Point Acquisition Corp. III
Several large investors have recently added to or reduced their stakes in IPCX. AQR Arbitrage LLC acquired a new stake in Inflection Point Acquisition Corp. III during the third quarter worth about $10,585,000. Berkley W R Corp grew its stake in shares of Inflection Point Acquisition Corp. III by 198.4% in the 4th quarter. Berkley W R Corp now owns 1,184,193 shares of the company’s stock valued at $12,008,000 after buying an additional 787,313 shares during the period. Quarry LP purchased a new stake in shares of Inflection Point Acquisition Corp. III in the 4th quarter valued at approximately $7,241,000. Crossingbridge Advisors LLC acquired a new stake in shares of Inflection Point Acquisition Corp. III during the 4th quarter worth approximately $6,589,000. Finally, First Trust Capital Management L.P. purchased a new stake in shares of Inflection Point Acquisition Corp. III during the 4th quarter valued at approximately $5,070,000.
Inflection Point Acquisition Corp. III Stock Down 7.1%
NASDAQ IPCX traded down $0.29 during trading hours on Thursday, hitting $3.81. 39,881 shares of the company’s stock traded hands, compared to its average volume of 69,024. Inflection Point Acquisition Corp. III has a 52-week low of $3.77 and a 52-week high of $11.50. The firm’s 50-day moving average is $9.34 and its 200-day moving average is $9.92.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Inflection Point Acquisition Corp. III from a “hold” rating to a “sell” rating in a research note on Sunday, July 26th. Benchmark assumed coverage on Inflection Point Acquisition Corp. III in a research note on Tuesday, July 21st. They set a “speculative buy” rating and a $12.00 price objective for the company. Finally, Weiss Ratings raised Inflection Point Acquisition Corp. III from a “sell (d-)” rating to a “sell (d)” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.00.
Read Our Latest Analysis on Inflection Point Acquisition Corp. III
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.
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