Pelican Acquisition Corporation (NASDAQ:PELI) Short Interest Down 14.1% in February

Pelican Acquisition Corporation (NASDAQ:PELI) was the recipient of a significant decrease in short interest in February. As of February 13th, there was short interest totaling 46,448 shares, a decrease of 14.1% from the January 29th total of 54,066 shares. Based on an average daily trading volume, of 253,189 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.4% of the shares of the stock are sold short. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 253,189 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e)” rating on shares of Pelican Acquisition in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Pelican Acquisition Stock Performance

Shares of NASDAQ PELI opened at $10.27 on Friday. The stock’s 50-day simple moving average is $10.43 and its two-hundred day simple moving average is $10.21. Pelican Acquisition has a twelve month low of $8.98 and a twelve month high of $11.49.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Schonfeld Strategic Advisors LLC lifted its position in Pelican Acquisition by 5.9% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 89,975 shares of the company’s stock valued at $913,000 after purchasing an additional 4,975 shares during the last quarter. Wolverine Asset Management LLC lifted its holdings in shares of Pelican Acquisition by 2.0% during the 3rd quarter. Wolverine Asset Management LLC now owns 461,569 shares of the company’s stock worth $4,643,000 after acquiring an additional 8,838 shares during the last quarter. Periscope Capital Inc. grew its position in Pelican Acquisition by 12.1% in the fourth quarter. Periscope Capital Inc. now owns 224,200 shares of the company’s stock worth $2,276,000 after acquiring an additional 24,200 shares in the last quarter. Toronto Dominion Bank bought a new position in Pelican Acquisition in the fourth quarter valued at $246,000. Finally, BNP Paribas Financial Markets bought a new position in Pelican Acquisition in the third quarter valued at $335,000.

Pelican Acquisition Company Profile

Pelican Acquisition Corp is a Delaware-based special purpose acquisition company (SPAC) listed on the Nasdaq under the ticker PELI. Founded in 2021, the firm completed its initial public offering in July 2021 and holds its capital in trust pending the completion of a business combination. The company’s charter permits a merger, stock exchange, asset purchase or other similar transactions with one or more operating businesses.

The SPAC is focused on identifying opportunities in technology-driven sectors, including software, cybersecurity, digital infrastructure and related fields.