Plutonian Acquisition Corp II (NYSE:PLUN) Stock Short Interest Drops 50.6%

Plutonian Acquisition Corp II (NYSE:PLUN) saw a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 512 shares, a drop of 50.6% from the August 31st total of 1,036 shares. Based on an average daily trading volume, of 32,657 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PLUN. Wall Street Zen upgraded shares of Plutonian Acquisition Corp II to a “hold” rating in a research note on Saturday, June 27th. Weiss Ratings began coverage on shares of Plutonian Acquisition Corp II in a report on Monday, September 14th. They set a “sell (e)” rating for the company. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Plutonian Acquisition Corp II currently has an average rating of “Sell”.

Plutonian Acquisition Corp II Price Performance

NYSE:PLUN remained flat at $10.08 during trading hours on Wednesday. The company’s stock had a trading volume of 219,572 shares, compared to its average volume of 99,843. Plutonian Acquisition Corp II has a one year low of $9.94 and a one year high of $10.10. The business has a fifty day moving average price of $10.04.

Plutonian Acquisition Corp II Company Profile

Plutonian Acquisition Corp II is a special purpose acquisition company (SPAC) formed to identify and complete a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more operating businesses.

As a blank-check company, Plutonian Acquisition Corp II does not operate a conventional business and does not currently offer products or services to customers. Its activities are focused on raising capital, evaluating potential acquisition targets and pursuing a qualifying business combination.

The company has not publicly established a completed operating acquisition or a specific geographic market in which it serves customers.