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

Key Points

• Short interest surged 367.4% to 22,290 shares as of July 31, up from 4,769 shares two weeks earlier. Despite the increase, only 0.1% of IPCX shares are sold short, with a days-to-cover ratio of 0.2.
• IPCX shares fell 14.5% to $4.65 in Wednesday trading, well below the $9.46 50-day and $9.96 200-day moving averages. The stock has traded between $3.77 and $11.50 over the past year.
• Analyst sentiment is mixed: Benchmark initiated coverage with a “speculative buy” and a $12 target, while Wall Street Zen downgraded the stock to “sell.” The overall consensus rating is Hold, with an average price target of $12.

Inflection Point Acquisition Corp. III (NASDAQ:IPCX - Get Free Report) was the target of a significant growth in short interest in the month of 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 trading volume of 108,775 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company's shares are sold short.

Institutional Trading of Inflection Point Acquisition Corp. III

A number of hedge funds have recently modified their holdings of IPCX. PenderFund Capital Management Ltd. acquired a new position in Inflection Point Acquisition Corp. III during the fourth quarter valued at approximately $51,000. Virtu Financial LLC acquired a new position in shares of Inflection Point Acquisition Corp. III in the 3rd quarter valued at $273,000. Readystate Asset Management LP acquired a new position in shares of Inflection Point Acquisition Corp. III in the 4th quarter valued at $507,000. Geode Capital Management LLC increased its position in shares of Inflection Point Acquisition Corp. III by 11.4% in the 4th quarter. Geode Capital Management LLC now owns 65,585 shares of the company's stock valued at $665,000 after buying an additional 6,708 shares in the last quarter. Finally, Parallax Volatility Advisers L.P. bought a new stake in shares of Inflection Point Acquisition Corp. III in the 3rd quarter valued at $960,000.

Analyst Upgrades and Downgrades

IPCX has been the subject of a number of research reports. Benchmark assumed coverage on Inflection Point Acquisition Corp. III in a research report on Tuesday, July 21st. They issued a "speculative buy" rating and a $12.00 price objective for the company. 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. Finally, Weiss Ratings raised shares of Inflection Point Acquisition Corp. III from a "sell (d-)" rating to a "sell (d)" rating in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $12.00.

Inflection Point Acquisition Corp. III Stock Down 14.5%

Shares of Inflection Point Acquisition Corp. III stock traded down $0.79 during trading on Wednesday, reaching $4.65. 18,744 shares of the company were exchanged, compared to its average volume of 68,552. Inflection Point Acquisition Corp. III has a twelve month low of $3.77 and a twelve month high of $11.50. The business has a 50-day moving average price of $9.46 and a 200-day moving average price of $9.96.

Inflection Point Acquisition Corp. III (NASDAQ:IPCX - Get Free Report) last released its earnings results on Thursday, May 14th. The company reported $0.07 earnings per share for the quarter.

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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