Short Interest in Plum Acquisition Corp. IV (NASDAQ:PLMK) Rises By 378.6%

Plum Acquisition Corp. IV (NASDAQ:PLMK) was the target of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 4,006 shares, a growth of 378.6% from the February 26th total of 837 shares. Based on an average daily trading volume, of 252,628 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the shares of the stock are sold short. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 252,628 shares, the days-to-cover ratio is presently 0.0 days.

Analysts Set New Price Targets

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

Plum Acquisition Corp. IV Trading Up 0.1%

Shares of NASDAQ:PLMK opened at $10.55 on Wednesday. Plum Acquisition Corp. IV has a one year low of $10.00 and a one year high of $10.64. The company has a 50 day moving average of $10.51 and a 200-day moving average of $10.44.

Hedge Funds Weigh In On Plum Acquisition Corp. IV

A number of hedge funds and other institutional investors have recently bought and sold shares of PLMK. Governors Lane LP grew its holdings 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 worth $7,315,000 after acquiring an additional 399,900 shares during the period. Goldman Sachs Group Inc. bought a new stake in shares of Plum Acquisition Corp. IV during the 1st quarter valued at $3,409,000. Radcliffe Capital Management L.P. acquired a new position in shares of Plum Acquisition Corp. IV in the 2nd quarter valued at $3,201,000. Karpus Management Inc. lifted its stake in shares of Plum Acquisition Corp. IV by 52.1% in the 2nd quarter. Karpus Management Inc. now owns 685,225 shares of the company’s stock valued at $7,037,000 after purchasing an additional 234,625 shares during the period. Finally, Berkley W R Corp boosted its position in shares of Plum Acquisition Corp. IV by 34.9% in the 2nd quarter. Berkley W R Corp now owns 768,888 shares of the company’s stock worth $7,896,000 after purchasing an additional 199,045 shares during 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.