Proem Acquisition Corp I (NASDAQ:PAAC) Stock Short Interest Drops 44.4%

Proem Acquisition Corp I (NASDAQ:PAAC) was the target of a significant 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. Based on an average trading volume of 44,123 shares, the short-interest ratio is currently 0.6 days. Approximately 0.1% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised 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 investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Proem Acquisition Corp I Stock Performance

Shares of PAAC stock remained flat at $10.01 during trading hours on Friday. The stock had a trading volume of 32,352 shares, compared to its average volume of 19,108. The stock’s 50-day moving average is $10.05. Proem Acquisition Corp I has a 12-month low of $9.83 and a 12-month high of $10.15.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Proem Acquisition Corp I stock. Readystate Asset Management LP boosted its holdings in Proem Acquisition Corp I (NASDAQ:PAAC) by 2.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 139,414 shares of the company’s stock after buying an additional 2,888 shares during the period. Readystate Asset Management LP owned 0.79% of Proem Acquisition Corp I worth $1,451,000 as of its most recent SEC filing.

About Proem Acquisition Corp I