Short Interest in Inflection Point Acquisition Corp. III (NASDAQ:IPCX) Grows By 132.3%

Inflection Point Acquisition Corp. III (NASDAQ:IPCX) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 4,769 shares, a growth of 132.3% from the June 30th total of 2,053 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 35,021 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On Inflection Point Acquisition Corp. III

Several institutional investors and hedge funds have recently modified their holdings of the business. Berkley W R Corp grew its holdings in Inflection Point Acquisition Corp. III by 198.4% in the fourth quarter. Berkley W R Corp now owns 1,184,193 shares of the company’s stock valued at $12,008,000 after purchasing an additional 787,313 shares during the period. AQR Arbitrage LLC acquired a new position in shares of Inflection Point Acquisition Corp. III during the 3rd quarter worth approximately $10,585,000. Meteora Capital LLC lifted its position in shares of Inflection Point Acquisition Corp. III by 5.4% during the 3rd quarter. Meteora Capital LLC now owns 1,036,232 shares of the company’s stock valued at $10,435,000 after buying an additional 53,335 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Inflection Point Acquisition Corp. III by 99.5% during the 4th quarter. Toronto Dominion Bank now owns 797,079 shares of the company’s stock valued at $8,082,000 after buying an additional 397,579 shares in the last quarter. Finally, Quarry LP acquired a new stake in Inflection Point Acquisition Corp. III in the 4th quarter valued at $7,241,000.

Inflection Point Acquisition Corp. III Trading Up 4.7%

Inflection Point Acquisition Corp. III stock traded up $0.42 during mid-day trading on Wednesday, hitting $9.35. The company had a trading volume of 139,028 shares, compared to its average volume of 65,388. Inflection Point Acquisition Corp. III has a 12-month low of $8.58 and a 12-month high of $11.50. The company’s fifty day moving average is $10.32 and its 200-day moving average is $10.25.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IPCX. 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 began coverage on shares of 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, Wall Street Zen downgraded shares of Inflection Point Acquisition Corp. III from a “hold” rating to a “sell” rating in a report on Sunday. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.00.

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.