Short Interest in Plum Acquisition Corp. IV (NASDAQ:PLMK) Drops By 81.2%

Plum Acquisition Corp. IV (NASDAQ:PLMK) was the target of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 621 shares, a decrease of 81.2% from the June 15th total of 3,301 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 285,811 shares, the days-to-cover ratio is currently 0.0 days.

Plum Acquisition Corp. IV Stock Performance

NASDAQ PLMK traded up $0.28 on Monday, reaching $10.95. The company had a trading volume of 16,118 shares, compared to its average volume of 151,494. Plum Acquisition Corp. IV has a 12 month low of $10.27 and a 12 month high of $12.00. The firm’s 50 day moving average price is $10.65 and its 200 day moving average price is $10.57.

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

Analysts Set New Price Targets

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, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Trading of Plum Acquisition Corp. IV

Hedge funds have recently modified their holdings of the company. ABC Arbitrage SA purchased a new stake in Plum Acquisition Corp. IV in the 4th quarter worth about $157,000. Crossingbridge Advisors LLC purchased a new position in shares of Plum Acquisition Corp. IV during the fourth quarter valued at approximately $262,000. Virtu Financial LLC purchased a new position in shares of Plum Acquisition Corp. IV during the fourth quarter valued at approximately $352,000. Moore Capital Management LP bought a new position in shares of Plum Acquisition Corp. IV during the second quarter valued at approximately $772,000. Finally, Radcliffe Capital Management L.P. bought a new position in shares of Plum Acquisition Corp. IV during the second quarter valued at approximately $3,201,000.

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.