Pontem Co. (NYSE:PNTM) Sees Significant Drop in Short Interest

Pontem Co. (NYSE:PNTMGet Rating) was the target of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totalling 339,500 shares, a decrease of 15.1% from the June 30th total of 400,000 shares. Based on an average daily volume of 176,100 shares, the days-to-cover ratio is presently 1.9 days. Currently, 0.5% of the shares of the company are sold short.

Institutional Investors Weigh In On Pontem

Several institutional investors have recently added to or reduced their stakes in the business. Whitebox Advisors LLC lifted its holdings in Pontem by 1.2% during the fourth quarter. Whitebox Advisors LLC now owns 99,200 shares of the company’s stock valued at $972,000 after purchasing an additional 1,200 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in shares of Pontem by 36.5% in the first quarter. Penserra Capital Management LLC now owns 8,734 shares of the company’s stock worth $85,000 after buying an additional 2,337 shares in the last quarter. Oribel Capital Management LP lifted its holdings in shares of Pontem by 22.1% in the fourth quarter. Oribel Capital Management LP now owns 114,761 shares of the company’s stock worth $1,124,000 after buying an additional 20,745 shares in the last quarter. Cohanzick Management LLC lifted its holdings in shares of Pontem by 129.3% in the first quarter. Cohanzick Management LLC now owns 40,539 shares of the company’s stock worth $397,000 after buying an additional 22,862 shares in the last quarter. Finally, Graham Capital Wealth Management LLC purchased a new stake in shares of Pontem in the fourth quarter worth about $397,000. 70.05% of the stock is owned by hedge funds and other institutional investors.

Pontem Price Performance

NYSE PNTM opened at $9.88 on Wednesday. Pontem has a 52 week low of $9.61 and a 52 week high of $9.91. The firm’s 50-day simple moving average is $9.84 and its two-hundred day simple moving average is $9.81.

Pontem Company Profile

(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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