Inflection Point (NASDAQ:IPXG) Stock Short Interest Jumps 2,159.4%

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

Inflection Point Price Performance

IPXG traded down $0.01 on Monday, reaching $10.11. The company’s stock had a trading volume of 29,459 shares, compared to its average volume of 112,260. Inflection Point has a 1 year low of $9.76 and a 1 year high of $10.22.

Analyst Ratings Changes

IPXG has been the subject of a number of recent analyst reports. Weiss Ratings assumed coverage on shares of Inflection Point in a report on Tuesday, October 6th. They set a “sell (e+)” rating for the company. JonesTrading initiated coverage on shares of Inflection Point in a report on Thursday, October 8th. They issued a “buy” rating and a $12.00 price objective on the stock. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Inflection Point has an average rating of “Hold” and a consensus 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.