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

Plum Acquisition Corp. IV (NASDAQ:PLMK) was the recipient 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 daily volume of 39,847 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the shares of the company are short sold.

Plum Acquisition Corp. IV Stock Performance

Shares of PLMK opened at $10.64 on Thursday. Plum Acquisition Corp. IV has a 12 month low of $10.15 and a 12 month high of $10.84. The stock has a fifty day moving average price of $10.59 and a 200 day moving average price of $10.51.

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sona Asset Management US LLC bought a new stake in shares of Plum Acquisition Corp. IV during the first quarter valued at approximately $3,696,000. Berkley W R Corp grew its holdings in Plum Acquisition Corp. IV by 4.6% in the 1st quarter. Berkley W R Corp now owns 804,192 shares of the company’s stock worth $8,492,000 after buying an additional 35,304 shares in the last quarter. Virtu Financial LLC acquired a new stake in Plum Acquisition Corp. IV in the 4th quarter valued at approximately $352,000. Rivernorth Capital Management LLC raised its stake in Plum Acquisition Corp. IV by 45.6% during the 4th quarter. Rivernorth Capital Management LLC now owns 369,581 shares of the company’s stock valued at $3,855,000 after acquiring an additional 115,831 shares in the last quarter. Finally, Governors Lane LP raised its stake in Plum Acquisition Corp. IV by 133.3% during the 4th quarter. Governors Lane LP now owns 700,000 shares of the company’s stock valued at $7,315,000 after acquiring an additional 399,900 shares in the last 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.