Short Interest in Plum Acquisition Corp. IV (NASDAQ:PLMK) Drops By 89.7%

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Plum Acquisition Corp. IV in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Plum Acquisition Corp. IV has a consensus rating of “Sell”.

Plum Acquisition Corp. IV Stock Performance

Shares of PLMK traded up $0.01 during trading hours on Thursday, hitting $10.51. The stock had a trading volume of 805 shares, 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 firm has a 50 day simple moving average of $10.49 and a 200-day simple moving average of $10.40.

Institutional Trading of Plum Acquisition Corp. IV

A number of large investors have recently added to or reduced their stakes in PLMK. Magnetar Financial LLC purchased a new stake in Plum Acquisition Corp. IV in the 2nd quarter worth approximately $5,138,000. Wealthspring Capital LLC bought a new stake in shares of Plum Acquisition Corp. IV in the 2nd quarter worth approximately $2,314,000. Alberta Investment Management Corp purchased a new stake in shares of Plum Acquisition Corp. IV in the second quarter worth $5,150,000. BCK Capital Management LP purchased a new position in Plum Acquisition Corp. IV in the second quarter worth about $1,028,000. Finally, Wolverine Asset Management LLC boosted its stake in Plum Acquisition Corp. IV by 90.5% during the 2nd quarter. Wolverine Asset Management LLC now owns 648,206 shares of the company’s stock valued at $6,677,000 after purchasing 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.