Plum Acquisition Corp. IV (NASDAQ:PLMK) Sees Significant Drop in Short Interest

Plum Acquisition Corp. IV (NASDAQ:PLMK) was the recipient of a large decline in short interest in February. As of February 13th, there was short interest totaling 938 shares, a decline of 89.7% from the January 29th total of 9,065 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 56,232 shares, the short-interest ratio is presently 0.0 days. Based on an average daily volume of 56,232 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the company’s shares are short sold.

Plum Acquisition Corp. IV Stock Performance

Plum Acquisition Corp. IV stock traded up $0.01 on Wednesday, hitting $10.51. 805 shares of the stock traded hands, compared to its average volume of 40,534. Plum Acquisition Corp. IV has a 1 year low of $9.99 and a 1 year high of $10.64. The business’s fifty day simple moving average is $10.49 and its 200 day simple moving average is $10.40.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Plum Acquisition Corp. IV in a research note on Friday, January 9th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Investors Weigh In On Plum Acquisition Corp. IV

Several hedge funds have recently bought and sold shares of PLMK. Magnetar Financial LLC bought a new position in shares of Plum Acquisition Corp. IV during the second quarter valued at approximately $5,138,000. Wealthspring Capital LLC purchased a new stake in shares of Plum Acquisition Corp. IV in the 2nd quarter worth approximately $2,314,000. Alberta Investment Management Corp bought a new position in Plum Acquisition Corp. IV during the 2nd quarter valued at approximately $5,150,000. BCK Capital Management LP purchased a new position in Plum Acquisition Corp. IV during the second quarter valued at $1,028,000. Finally, Wolverine Asset Management LLC raised its stake in Plum Acquisition Corp. IV by 90.5% during the second quarter. Wolverine Asset Management LLC now owns 648,206 shares of the company’s stock valued at $6,677,000 after buying an additional 308,024 shares during the last quarter.

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.