Plum Acquisition Corp. IV (NASDAQ:PLMK) Short Interest Up 106.2% in April

Key Points

• Short interest up 106.2% — short interest rose to 1,817 shares as of April 15 (from 881 on March 31), but the short-interest ratio is only 0.1 days and roughly 0.0% of shares are sold short.
• Several hedge funds boosted holdings: Governors Lane LP now owns 700,000 shares (~$7.3M) and Rivernorth Capital owns 369,581 shares (~$3.9M), while Virtu, Radcliffe and Glazer also added positions.
• Analyst sentiment is negative with a consensus Sell (Weiss Ratings restated "sell (d-)"), and PLMK trades near $10.59 with low volume and a narrow 12‑month range ($10.10–$10.67).

Plum Acquisition Corp. IV (NASDAQ:PLMK - Get Free Report) saw a significant increase in short interest in April. As of April 15th, there was short interest totaling 1,817 shares, an increase of 106.2% from the March 31st total of 881 shares. Based on an average daily trading volume, of 27,351 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the company's stock are sold short.

Hedge Funds Weigh In On Plum Acquisition Corp. IV

Several hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in shares of Plum Acquisition Corp. IV during the fourth quarter worth about $352,000. Rivernorth Capital Management LLC grew its holdings in shares of Plum Acquisition Corp. IV by 45.6% during the fourth quarter. Rivernorth Capital Management LLC now owns 369,581 shares of the company's stock worth $3,855,000 after purchasing an additional 115,831 shares during the last quarter. Governors Lane LP grew its holdings in shares of Plum Acquisition Corp. IV by 133.3% during the fourth quarter. Governors Lane LP now owns 700,000 shares of the company's stock worth $7,315,000 after purchasing an additional 399,900 shares during the last quarter. Radcliffe Capital Management L.P. grew its holdings in shares of Plum Acquisition Corp. IV by 5.6% during the fourth quarter. Radcliffe Capital Management L.P. now owns 449,055 shares of the company's stock worth $4,693,000 after purchasing an additional 23,725 shares during the last quarter. Finally, Glazer Capital LLC grew its holdings in shares of Plum Acquisition Corp. IV by 1.7% during the fourth quarter. Glazer Capital LLC now owns 783,339 shares of the company's stock worth $8,170,000 after purchasing an additional 13,107 shares during the last quarter.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Plum Acquisition Corp. IV in a research note on Friday, January 9th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of "Sell".

Plum Acquisition Corp. IV Stock Performance

Shares of PLMK stock traded up $0.01 during mid-day trading on Friday, hitting $10.59. 7,530 shares of the stock were exchanged, compared to its average volume of 30,090. The stock's fifty day simple moving average is $10.54 and its two-hundred day simple moving average is $10.48. Plum Acquisition Corp. IV has a 12-month low of $10.10 and a 12-month high of $10.67.

Plum Acquisition Corp. IV (NASDAQ:PLMK - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.07 earnings per share (EPS) for the quarter.

About Plum Acquisition Corp. IV

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.

Although Plum Acquisition Corp.

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