Plum Acquisition Corp. IV (NASDAQ:PLMK) Releases Quarterly Earnings Results

Plum Acquisition Corp. IV (NASDAQ:PLMK) posted its quarterly earnings data on Friday. The company reported $0.02 EPS for the quarter, FiscalAI reports.

Plum Acquisition Corp. IV Stock Performance

Shares of NASDAQ:PLMK opened at $10.56 on Friday. Plum Acquisition Corp. IV has a 1-year low of $10.27 and a 1-year high of $12.00. The company has a 50 day moving average price of $10.63 and a 200 day moving average price of $10.59.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Plum Acquisition Corp. IV in a report on Wednesday, July 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PLMK. Governors Lane LP boosted its stake in shares of 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 in the last quarter. Sona Asset Management US LLC acquired a new position in shares of Plum Acquisition Corp. IV in the 1st quarter worth $3,696,000. Goldman Sachs Group Inc. acquired a new position in shares of Plum Acquisition Corp. IV in the 1st quarter worth $3,409,000. Radcliffe Capital Management L.P. acquired a new stake in shares of Plum Acquisition Corp. IV during the second quarter worth $3,201,000. Finally, Rivernorth Capital Management LLC raised its position in shares of Plum Acquisition Corp. IV by 45.6% during the fourth quarter. Rivernorth Capital Management LLC now owns 369,581 shares of the company’s stock worth $3,855,000 after purchasing an additional 115,831 shares during the period.

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.