Short Interest in Inflection Point Acquisition Corp. III (NASDAQ:IPCX) Drops By 49.5%

Inflection Point Acquisition Corp. III (NASDAQ:IPCX) was the recipient of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 978 shares, a decline of 49.5% from the February 26th total of 1,937 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 61,830 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Inflection Point Acquisition Corp. III in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Inflection Point Acquisition Corp. III

Hedge funds have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP bought a new position in Inflection Point Acquisition Corp. III during the second quarter worth about $4,848,000. Wealthspring Capital LLC bought a new stake in shares of Inflection Point Acquisition Corp. III in the 3rd quarter valued at about $5,357,000. Wolverine Asset Management LLC raised its position in shares of Inflection Point Acquisition Corp. III by 63.8% in the 3rd quarter. Wolverine Asset Management LLC now owns 164,698 shares of the company’s stock valued at $1,659,000 after acquiring an additional 64,126 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Inflection Point Acquisition Corp. III in the 3rd quarter valued at approximately $16,747,000. Finally, MMCAP International Inc. SPC bought a new position in Inflection Point Acquisition Corp. III during the 3rd quarter worth approximately $14,098,000.

Inflection Point Acquisition Corp. III Price Performance

Shares of IPCX stock remained flat at $10.21 during trading hours on Friday. The stock had a trading volume of 109,364 shares, compared to its average volume of 58,188. Inflection Point Acquisition Corp. III has a one year low of $10.05 and a one year high of $10.35. The firm’s fifty day simple moving average is $10.18 and its 200 day simple moving average is $10.15.

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.