Plum Acquisition Corp. IV (NASDAQ:PLMK) Short Interest Up 1,264.0% in May

Plum Acquisition Corp. IV (NASDAQ:PLMK) saw a significant growth in short interest in May. As of May 15th, there was short interest totaling 7,761 shares, a growth of 1,264.0% from the April 30th total of 569 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily volume of 39,847 shares, the short-interest ratio is currently 0.2 days.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Plum Acquisition Corp. IV in a report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Plum Acquisition Corp. IV Price Performance

Shares of PLMK traded up $0.01 during mid-day trading on Wednesday, reaching $10.64. The company’s stock had a trading volume of 400 shares, compared to its average volume of 40,518. The business has a fifty day moving average of $10.59 and a 200 day moving average of $10.51. Plum Acquisition Corp. IV has a 1 year low of $10.15 and a 1 year high of $10.84.

Plum Acquisition Corp. IV (NASDAQ:PLMK) last posted its quarterly earnings results on Friday, May 15th. The company reported $0.05 earnings per share for the quarter.

Hedge Funds Weigh In On Plum Acquisition Corp. IV

A number of hedge funds have recently modified their holdings of the stock. Berkley W R Corp increased its stake in shares of Plum Acquisition Corp. IV by 4.6% in the first quarter. Berkley W R Corp now owns 804,192 shares of the company’s stock worth $8,492,000 after acquiring an additional 35,304 shares during the last quarter. Glazer Capital LLC increased its stake in shares of Plum Acquisition Corp. IV by 1.7% in the fourth quarter. Glazer Capital LLC now owns 783,339 shares of the company’s stock worth $8,170,000 after acquiring an additional 13,107 shares during the last quarter. Governors Lane LP increased its stake in shares of Plum Acquisition Corp. IV by 133.3% in the fourth quarter. Governors Lane LP now owns 700,000 shares of the company’s stock worth $7,315,000 after acquiring an additional 399,900 shares during the last quarter. Radcliffe Capital Management L.P. increased its stake in shares of Plum Acquisition Corp. IV by 5.6% in the fourth quarter. Radcliffe Capital Management L.P. now owns 449,055 shares of the company’s stock worth $4,693,000 after acquiring an additional 23,725 shares during the last quarter. Finally, Rivernorth Capital Management LLC increased its stake in shares of Plum Acquisition Corp. IV by 45.6% in the fourth quarter. Rivernorth Capital Management LLC now owns 369,581 shares of the company’s stock worth $3,855,000 after acquiring an additional 115,831 shares during the last 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.