Inflection Point Acquisition Corp. III (NASDAQ:IPCX) Upgraded at Benchmark

Benchmark upgraded shares of Inflection Point Acquisition Corp. III (NASDAQ:IPCX) to a moderate buy rating in a research report released on Tuesday morning,Zacks.com reports.

A number of other equities research analysts have also recently commented on IPCX. Weiss Ratings raised Inflection Point Acquisition Corp. III from a “sell (d-)” rating to a “sell (d)” rating in a research note on Wednesday, July 1st. Wall Street Zen raised Inflection Point Acquisition Corp. III to a “hold” rating in a research report on Saturday, July 18th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.00.

Inflection Point Acquisition Corp. III Trading Up 0.0%

IPCX stock opened at $10.40 on Tuesday. The firm has a 50 day moving average price of $10.34 and a 200-day moving average price of $10.25. Inflection Point Acquisition Corp. III has a 52-week low of $10.05 and a 52-week high of $10.43.

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

Hedge Funds Weigh In On Inflection Point Acquisition Corp. III

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PenderFund Capital Management Ltd. bought a new stake in shares of Inflection Point Acquisition Corp. III in the 4th quarter worth $51,000. Virtu Financial LLC bought a new position in shares of Inflection Point Acquisition Corp. III during the third quarter valued at $273,000. Readystate Asset Management LP purchased a new stake in shares of Inflection Point Acquisition Corp. III during the fourth quarter valued at $507,000. Geode Capital Management LLC boosted its position in shares of Inflection Point Acquisition Corp. III by 11.4% during the fourth 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 during the last quarter. Finally, Parallax Volatility Advisers L.P. bought a new stake in Inflection Point Acquisition Corp. III in the 3rd quarter worth about $960,000.

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.