Proem Acquisition Corp I (NASDAQ:PAAC) Short Interest Up 531.3% in June

Proem Acquisition Corp I (NASDAQ:PAAC) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totaling 1,351 shares, an increase of 531.3% from the June 15th total of 214 shares. Based on an average daily trading volume, of 681 shares, the days-to-cover ratio is presently 2.0 days. Currently, 0.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings began coverage on Proem Acquisition Corp I in a research note on Tuesday, June 30th. They set a “sell (e)” rating on the stock. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Proem Acquisition Corp I Price Performance

NASDAQ:PAAC traded down $0.01 during mid-day trading on Monday, hitting $9.95. The company’s stock had a trading volume of 585 shares, compared to its average volume of 15,063. Proem Acquisition Corp I has a fifty-two week low of $9.83 and a fifty-two week high of $10.00.

About Proem Acquisition Corp I

Proem Acquisition Corp I is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.