Pontem Co. (NYSE:PNTM) Short Interest Update

Pontem Co. (NYSE:PNTMGet Rating) was the target of a significant increase in short interest in May. As of May 31st, there was short interest totalling 72,100 shares, an increase of 362.2% from the May 15th total of 15,600 shares. Based on an average daily trading volume, of 175,900 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.1% of the shares of the company are sold short.

Shares of NYSE PNTM traded down $0.03 during mid-day trading on Friday, reaching $9.82. The company’s stock had a trading volume of 12,153 shares, compared to its average volume of 244,223. The stock has a fifty day moving average of $9.83 and a two-hundred day moving average of $9.79. Pontem has a 52 week low of $9.61 and a 52 week high of $9.90.

A number of institutional investors have recently made changes to their positions in PNTM. Penserra Capital Management LLC bought a new stake in shares of Pontem in the 4th quarter valued at approximately $62,000. Graham Capital Wealth Management LLC bought a new stake in shares of Pontem in the 4th quarter valued at approximately $397,000. Cohanzick Management LLC lifted its stake in shares of Pontem by 129.3% in the 1st quarter. Cohanzick Management LLC now owns 40,539 shares of the company’s stock valued at $397,000 after purchasing an additional 22,862 shares during the last quarter. Timelo Investment Management Inc. bought a new stake in shares of Pontem in the 4th quarter valued at approximately $490,000. Finally, Privium Fund Management UK Ltd bought a new stake in shares of Pontem in the 1st quarter valued at approximately $502,000. 70.05% of the stock is owned by institutional investors.

About Pontem (Get Rating)

Pontem Corporation does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It intends to focus its search on global and regional consumer brands businesses.

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