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

Inflection Point Acquisition Corp. III (NASDAQ:IPCX) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 2,040 shares, a growth of 91.4% from the May 31st total of 1,066 shares. Based on an average daily trading volume, of 60,136 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the shares of the company are sold short.

Hedge Funds Weigh In On Inflection Point Acquisition Corp. III

A number of large investors have recently made changes to their positions in IPCX. JPMorgan Chase & Co. purchased a new stake in Inflection Point Acquisition Corp. III in the 3rd quarter valued at about $16,747,000. Gabelli Funds LLC bought a new stake in shares of Inflection Point Acquisition Corp. III during the third quarter valued at approximately $1,080,000. Radcliffe Capital Management L.P. purchased a new stake in shares of Inflection Point Acquisition Corp. III in the third quarter valued at approximately $2,661,000. Picton Mahoney Asset Management purchased a new stake in shares of Inflection Point Acquisition Corp. III in the third quarter valued at approximately $7,552,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Inflection Point Acquisition Corp. III in the third quarter worth approximately $1,438,000.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Inflection Point Acquisition Corp. III in a research note on Friday, May 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Inflection Point Acquisition Corp. III presently has a consensus rating of “Sell”.

Inflection Point Acquisition Corp. III Price Performance

IPCX stock remained flat at $10.33 during mid-day trading on Wednesday. 1,294 shares of the company’s stock traded hands, compared to its average volume of 59,229. The firm’s 50-day moving average price is $10.31 and its 200-day moving average price is $10.22. Inflection Point Acquisition Corp. III has a 1-year low of $10.05 and a 1-year high of $10.34.

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