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

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 trading volume, of 108,775 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are sold short.

Inflection Point Acquisition Corp. III Price Performance

IPCX stock traded up $0.62 during trading on Friday, reaching $4.43. 40,794 shares of the company traded hands, compared to its average volume of 68,898. Inflection Point Acquisition Corp. III has a 12 month low of $3.77 and a 12 month high of $11.50. The business has a 50 day simple moving average of $9.21 and a 200 day simple moving average of $9.87.

Inflection Point Acquisition Corp. III (NASDAQ:IPCX) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.08 EPS for the quarter.

Analyst Ratings Changes

Several analysts recently weighed in on IPCX shares. Weiss Ratings upgraded Inflection Point Acquisition Corp. III from a “sell (d-)” rating to a “sell (d)” rating in a report on Wednesday, July 1st. Wall Street Zen downgraded shares of Inflection Point Acquisition Corp. III from a “hold” rating to a “sell” rating in a research report on Sunday, July 26th. Finally, Benchmark assumed 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. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IPCX. PenderFund Capital Management Ltd. purchased a new stake in shares of Inflection Point Acquisition Corp. III during the fourth quarter worth about $51,000. Geode Capital Management LLC grew its position in Inflection Point Acquisition Corp. III by 11.4% during the 4th 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 stake in Inflection Point Acquisition Corp. III by 12.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 180,000 shares of the company’s stock valued at $1,825,000 after purchasing an additional 20,025 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Inflection Point Acquisition Corp. III in the third quarter worth $273,000. Finally, K2 Principal Fund L.P. grew its holdings in shares of Inflection Point Acquisition Corp. III by 11.5% during the fourth quarter. K2 Principal Fund L.P. now owns 276,543 shares of the company’s stock valued at $2,804,000 after buying an additional 28,477 shares during 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.