Plum Acquisition Corp. IV (NASDAQ:PLMK) Sees Large Decrease in Short Interest

Plum Acquisition Corp. IV (NASDAQ:PLMK) saw a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 5,414 shares, a decrease of 35.8% from the July 15th total of 8,437 shares. Based on an average daily volume of 8,903 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.0% of the shares of the company are short sold.

Institutional Trading of Plum Acquisition Corp. IV

Several institutional investors and hedge funds have recently made changes to their positions in PLMK. Glazer Capital LLC lifted its position 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 in the last quarter. ABC Arbitrage SA bought a new stake in Plum Acquisition Corp. IV during the fourth quarter valued at about $157,000. Radcliffe Capital Management L.P. grew its position in 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 buying an additional 23,725 shares in the last quarter. Crossingbridge Advisors LLC bought a new position in Plum Acquisition Corp. IV in the fourth quarter worth $262,000. Finally, Virtu Financial LLC bought a new position in shares of Plum Acquisition Corp. IV during the 4th quarter worth about $352,000.

Plum Acquisition Corp. IV Stock Performance

Plum Acquisition Corp. IV stock remained flat at $10.57 during mid-day trading on Wednesday. The company’s stock had a trading volume of 121 shares, compared to its average volume of 64,382. Plum Acquisition Corp. IV has a 1-year low of $10.27 and a 1-year high of $12.00. The firm’s 50-day moving average is $10.63 and its two-hundred day moving average is $10.59.

Plum Acquisition Corp. IV (NASDAQ:PLMK) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.02 earnings per share (EPS) for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Plum Acquisition Corp. IV in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

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.