Plum Acquisition Corp. IV (NASDAQ:PLMK) Sees Significant Drop in Short Interest

Plum Acquisition Corp. IV (NASDAQ:PLMK – Get Free Report) saw a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 3,301 shares, a decrease of 69.5% from the May 31st total of 10,810 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 31,668 shares, the short-interest ratio is currently 0.1 days.

Plum Acquisition Corp. IV Stock Performance

Plum Acquisition Corp. IV stock traded up $0.03 during trading hours on Friday, reaching $10.66. The stock had a trading volume of 211,470 shares, compared to its average volume of 143,848. The business’s 50 day moving average price is $10.62 and its 200-day moving average price is $10.54. Plum Acquisition Corp. IV has a 52 week low of $10.25 and a 52 week high of $10.84.

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Plum Acquisition Corp. IV (NASDAQ:PLMK – Get Free Report) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.05 EPS for the quarter.

Institutional Trading of Plum Acquisition Corp. IV

Hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. acquired a new stake in shares of Plum Acquisition Corp. IV in the 1st quarter worth $3,409,000. Moore Capital Management LP acquired a new position in Plum Acquisition Corp. IV during the 2nd quarter valued at about $772,000. Radcliffe Capital Management L.P. acquired a new position in Plum Acquisition Corp. IV during the 2nd quarter valued at about $3,201,000. ABC Arbitrage SA purchased a new stake in Plum Acquisition Corp. IV in the fourth quarter valued at about $157,000. Finally, Crossingbridge Advisors LLC purchased a new stake in Plum Acquisition Corp. IV in the fourth quarter valued at about $262,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Plum Acquisition Corp. IV in a report on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Check Out Our Latest Analysis on Plum Acquisition Corp. IV

About Plum Acquisition Corp. IV

(Get Free Report)

Plum Acquisition Corp. IV is a special purpose acquisition company incorporated in the Cayman Islands. Trading on the Nasdaq under the ticker PLMK, the company has no operating history and was formed for the purpose of effecting one or more business combinations, such as a merger, capital stock exchange, asset acquisition or similar transaction.

The company completed its initial public offering, raising capital through the sale of units comprised of ordinary shares and warrants. The net proceeds of the offering are held in a trust account, pending the identification and consummation of a suitable business combination within the prescribed timeframe, generally 24 months from the closing date of the offering.

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