Plum Acquisition Corp. IV (NASDAQ:PLMK) Short Interest Update

Key Points

• Short interest plunged by 78.0% to 881 shares as of March 31, representing 0.0% of the stock shorted and a days-to-cover of 0.0.
• Weiss Ratings reiterated a "sell (d-)" and the stock's average analyst consensus is a Sell.
• PLMK traded at $10.56 on Friday with volume of 113,676 versus an average of 16,414, and is a SPAC with no operating history (it reported $0.07 EPS for the quarter and holds IPO proceeds in trust).

Plum Acquisition Corp. IV (NASDAQ:PLMK - Get Free Report) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totaling 881 shares, a decrease of 78.0% from the March 15th total of 4,006 shares. Currently, 0.0% of the company's stock are short sold. Based on an average daily volume of 22,944 shares, the days-to-cover ratio is presently 0.0 days.

Analysts Set New Price Targets

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

Plum Acquisition Corp. IV Price Performance

PLMK traded up $0.01 during trading on Friday, reaching $10.56. The stock had a trading volume of 113,676 shares, compared to its average volume of 16,414. The stock's 50 day moving average is $10.53 and its two-hundred day moving average is $10.46. Plum Acquisition Corp. IV has a one year low of $10.03 and a one year high of $10.67.

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

Hedge Funds Weigh In On Plum Acquisition Corp. IV

Institutional investors and hedge funds have recently modified their holdings of the stock. Radcliffe Capital Management L.P. increased its holdings in shares of Plum Acquisition Corp. IV by 36.6% during the third quarter. Radcliffe Capital Management L.P. now owns 425,330 shares of the company's stock valued at $4,389,000 after acquiring an additional 113,975 shares in the last quarter. Karpus Management Inc. increased its holdings in shares of Plum Acquisition Corp. IV by 52.1% during the second quarter. Karpus Management Inc. now owns 685,225 shares of the company's stock valued at $7,037,000 after acquiring an additional 234,625 shares in the last quarter. Berkley W R Corp increased its holdings in shares of Plum Acquisition Corp. IV by 34.9% during the second quarter. Berkley W R Corp now owns 768,888 shares of the company's stock valued at $7,896,000 after acquiring an additional 199,045 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Plum Acquisition Corp. IV during the fourth quarter valued at $352,000. Finally, Crossingbridge Advisors LLC bought a new position in shares of Plum Acquisition Corp. IV during the fourth quarter valued at $262,000.

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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