Inflection Point (NASDAQ:IPXG) Shares Shorted: Short Interest Up 2,159.4% in October

Inflection Point (NASDAQ:IPXG) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totaling 50,294 shares, a growth of 2,159.4% from the September 30th total of 2,226 shares. Based on an average trading volume of 165,964 shares, the short-interest ratio is currently 0.3 days.

Inflection Point Stock Performance

NASDAQ IPXG traded down $0.01 on Monday, hitting $10.11. 29,459 shares of the stock traded hands, compared to its average volume of 112,260. Inflection Point has a twelve month low of $9.76 and a twelve month high of $10.22.

Analyst Ratings Changes

A number of research firms have commented on IPXG. JonesTrading initiated coverage on shares of Inflection Point in a research note on Thursday, October 8th. They set a “buy” rating and a $12.00 price objective on the stock. Weiss Ratings initiated coverage on shares of Inflection Point in a research report on Tuesday, October 6th. They issued a “sell (e+)” rating for the company. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Inflection Point currently has a consensus rating of “Hold” and an average target price of $12.00.

About Inflection Point

Inflection Point is a special purpose acquisition company (SPAC) listed on the Nasdaq under the symbol IPXG. The company was formed to identify and complete a business combination with an operating company.

Its potential transaction may take the form of a merger, share exchange, asset acquisition, share purchase, reorganization or similar combination. Unlike an operating company, Inflection Point does not currently offer products or services of its own and may have limited activities before completing a transaction.

The company’s business prospects, industry focus and geographic exposure will depend on the target business selected for its proposed combination.