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

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

Institutional Investors Weigh In On Plum Acquisition Corp. IV

A number of institutional investors have recently added to or reduced their stakes in PLMK. Goldman Sachs Group Inc. acquired a new stake in Plum Acquisition Corp. IV in the first quarter worth approximately $3,409,000. Moore Capital Management LP acquired a new stake in Plum Acquisition Corp. IV in the second quarter worth approximately $772,000. Radcliffe Capital Management L.P. acquired a new stake in Plum Acquisition Corp. IV in the second quarter worth approximately $3,201,000. BCK Capital Management LP lifted its position in Plum Acquisition Corp. IV by 3.3% in the third quarter. BCK Capital Management LP now owns 103,313 shares of the company’s stock worth $1,066,000 after purchasing an additional 3,313 shares during the period. Finally, ABC Arbitrage SA acquired a new stake in Plum Acquisition Corp. IV in the fourth quarter worth approximately $157,000.

Plum Acquisition Corp. IV Stock Performance

PLMK stock traded down $0.02 on Friday, reaching $10.63. The company’s stock had a trading volume of 4,119 shares, compared to its average volume of 61,440. Plum Acquisition Corp. IV has a 52 week low of $10.16 and a 52 week high of $10.84. The firm has a fifty day moving average of $10.59 and a two-hundred day moving average of $10.51.

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

Wall Street Analyst Weigh In

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