Sona Asset Management US LLC Invests $3.70 Million in Plum Acquisition Corp. IV $PLMK

Sona Asset Management US LLC bought a new stake in shares of Plum Acquisition Corp. IV (NASDAQ:PLMK) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 350,000 shares of the company’s stock, valued at approximately $3,696,000. Sona Asset Management US LLC owned about 1.44% of Plum Acquisition Corp. IV as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLMK. ABC Arbitrage SA bought a new stake in Plum Acquisition Corp. IV in the fourth quarter worth $157,000. Crossingbridge Advisors LLC bought a new position in Plum Acquisition Corp. IV during the fourth quarter valued at $262,000. Virtu Financial LLC purchased a new position in shares of Plum Acquisition Corp. IV in the 4th quarter worth $352,000. Moore Capital Management LP purchased a new position in shares of Plum Acquisition Corp. IV in the 2nd quarter worth $772,000. Finally, Radcliffe Capital Management L.P. purchased a new position in shares of Plum Acquisition Corp. IV in the 2nd quarter worth $3,201,000.

Analyst Ratings Changes

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

Plum Acquisition Corp. IV Price Performance

NASDAQ:PLMK opened at $10.61 on Monday. The business has a 50 day simple moving average of $10.65 and a 200-day simple moving average of $10.58. Plum Acquisition Corp. IV has a 1 year low of $10.27 and a 1 year high of $12.00.

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