Inflection Point Acquisition Corp. III (NASDAQ:IPCX) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Inflection Point Acquisition Corp. III (NASDAQ:IPCX) from a hold rating to a sell rating in a report issued on Sunday.

IPCX has been the subject of several other research reports. Weiss Ratings upgraded Inflection Point Acquisition Corp. III from a “sell (d-)” rating to a “sell (d)” rating in a research note on Wednesday, July 1st. Benchmark assumed coverage on Inflection Point Acquisition Corp. III in a research report on Tuesday, July 21st. They set a “speculative buy” rating and a $12.00 price target on the stock. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Inflection Point Acquisition Corp. III currently has an average rating of “Hold” and a consensus price target of $12.00.

Inflection Point Acquisition Corp. III Stock Performance

IPCX stock opened at $8.93 on Friday. The firm’s fifty day moving average is $10.32 and its 200 day moving average is $10.25. Inflection Point Acquisition Corp. III has a one year low of $8.58 and a one year high of $11.50.

Inflection Point Acquisition Corp. III (NASDAQ:IPCX) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.07 earnings per share for the quarter.

Hedge Funds Weigh In On Inflection Point Acquisition Corp. III

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC raised its position in shares of Inflection Point Acquisition Corp. III by 176.6% during the 4th quarter. Wolverine Asset Management LLC now owns 455,506 shares of the company’s stock worth $4,619,000 after purchasing an additional 290,808 shares during the last quarter. Lineage Point Capital LP acquired a new stake in Inflection Point Acquisition Corp. III in the 4th quarter worth about $2,128,000. Clear Street Group Inc. boosted its holdings in Inflection Point Acquisition Corp. III by 39.6% in the 4th quarter. Clear Street Group Inc. now owns 301,000 shares of the company’s stock worth $3,052,000 after buying an additional 85,309 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 worth $1,825,000 after buying an additional 20,025 shares in the last quarter. Finally, ExodusPoint Capital Management LP purchased a new stake in Inflection Point Acquisition Corp. III during the 4th quarter worth approximately $2,535,000.

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.