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

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

Hedge Funds Weigh In On Plum Acquisition Corp. IV

Hedge funds have recently bought and sold shares of the business. ABC Arbitrage SA acquired a new position in Plum Acquisition Corp. IV during the fourth quarter worth $157,000. Crossingbridge Advisors LLC acquired a new position in Plum Acquisition Corp. IV during the fourth quarter worth $262,000. Virtu Financial LLC acquired a new stake in shares of Plum Acquisition Corp. IV in the fourth quarter valued at about $352,000. Moore Capital Management LP acquired a new stake in shares of Plum Acquisition Corp. IV in the second quarter valued at about $772,000. Finally, BCK Capital Management LP grew its position in shares of 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 valued at $1,066,000 after purchasing an additional 3,313 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Plum Acquisition Corp. IV in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Plum Acquisition Corp. IV Trading Up 0.0%

Plum Acquisition Corp. IV stock traded up $0.01 during mid-day trading on Wednesday, hitting $10.64. 400 shares of the company’s stock were exchanged, compared to its average volume of 40,518. Plum Acquisition Corp. IV has a 1-year low of $10.15 and a 1-year high of $10.84. The stock has a 50 day moving average of $10.59 and a two-hundred day moving average of $10.51.

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

About Plum Acquisition Corp. IV

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.