Proem Acquisition Corp I (NASDAQ:PAAC) Shares Shorted: Short Interest Down 44.4% in October

Proem Acquisition Corp I (NASDAQ:PAAC) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 25,134 shares, a drop of 44.4% from the September 30th total of 45,191 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 44,123 shares, the days-to-cover ratio is currently 0.6 days.

Proem Acquisition Corp I Price Performance

Shares of NASDAQ PAAC remained flat at $10.01 during trading on Monday. 191,791 shares of the stock traded hands, compared to its average volume of 25,947. The company has a fifty day moving average of $10.05. Proem Acquisition Corp I has a 52-week low of $9.83 and a 52-week high of $10.15.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Proem Acquisition Corp I from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, October 9th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Proem Acquisition Corp I stock. Readystate Asset Management LP lifted its position in shares of Proem Acquisition Corp I (NASDAQ:PAAC) by 2.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,414 shares of the company’s stock after purchasing an additional 2,888 shares during the quarter. Readystate Asset Management LP owned 0.79% of Proem Acquisition Corp I worth $1,451,000 at the end of the most recent reporting period.

Proem Acquisition Corp I Company Profile