Inflection Point (NASDAQ:IPXG – Get Free Report) was the recipient of a large increase in short interest in the month of 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 trading volume, of 165,964 shares, the short-interest ratio is presently 0.3 days.
Inflection Point Price Performance
Shares of IPXG traded down $0.03 during mid-day trading on Tuesday, reaching $10.09. The company had a trading volume of 44,615 shares, compared to its average volume of 111,812. Inflection Point has a twelve month low of $9.76 and a twelve month high of $10.22.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the company. Weiss Ratings started coverage on Inflection Point in a report on Tuesday, October 6th. They set a “sell (e+)” rating on the stock. 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 for the company. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.00.
Check Out Our Latest Stock Analysis on IPXG
Inflection Point Company Profile
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.
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