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

Key Points

• Short interest in PLMK surged to 8,437 shares as of July 15, up 1,258.6% from 621 shares at the end of June. Despite the jump, the days-to-cover ratio is still only 0.5 days and just 0.0% of shares are sold short.
• Analyst sentiment remains bearish, with Weiss Ratings reissuing a “sell (d)” rating and MarketBeat showing a consensus rating of “Sell.” Only one analyst currently covers the stock with a Sell rating.
• The stock was essentially unchanged at $10.61 in recent trading, near its 50-day and 200-day moving averages. Plum Acquisition Corp. IV is a SPAC with no operating history, and it most recently reported EPS of $0.05 for the quarter.

Plum Acquisition Corp. IV (NASDAQ:PLMK - Get Free Report) was the recipient of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 8,437 shares, an increase of 1,258.6% from the June 30th total of 621 shares. Based on an average trading volume of 15,499 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.0% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of Plum Acquisition Corp. IV in a research note on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Plum Acquisition Corp. IV has a consensus rating of "Sell".

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PLMK. Governors Lane LP boosted its holdings in shares of Plum Acquisition Corp. IV by 133.3% during the 4th quarter. Governors Lane LP now owns 700,000 shares of the company's stock worth $7,315,000 after buying an additional 399,900 shares during the period. Sona Asset Management US LLC bought a new position in shares of Plum Acquisition Corp. IV in the first quarter worth about $3,696,000. Goldman Sachs Group Inc. bought a new position in shares of Plum Acquisition Corp. IV in the first quarter worth about $3,409,000. Radcliffe Capital Management L.P. acquired a new position in shares of Plum Acquisition Corp. IV during the 2nd quarter worth about $3,201,000. Finally, Rivernorth Capital Management LLC lifted its position in shares of Plum Acquisition Corp. IV by 45.6% during the 4th 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.

Plum Acquisition Corp. IV Stock Performance

Shares of PLMK stock remained flat at $10.61 during mid-day trading on Friday. The stock had a trading volume of 2,689 shares, compared to its average volume of 27,717. Plum Acquisition Corp. IV has a one year low of $10.27 and a one year high of $12.00. The stock's fifty day simple moving average is $10.65 and its 200-day simple moving average is $10.58.

Plum Acquisition Corp. IV (NASDAQ:PLMK - Get Free Report) last released its earnings results on Friday, May 15th. The company reported $0.05 earnings per share (EPS) for the quarter.

Plum Acquisition Corp. IV Company Profile

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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