Pelican Acquisition Corporation (NASDAQ:PELI) Short Interest Update

Pelican Acquisition Corporation (NASDAQ:PELI) was the recipient of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 84,463 shares, an increase of 50.7% from the February 26th total of 56,064 shares. Based on an average daily volume of 270,981 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.7% of the shares of the company are sold short.

Pelican Acquisition Stock Performance

Pelican Acquisition stock remained flat at $8.23 during midday trading on Friday. Pelican Acquisition has a 1 year low of $7.52 and a 1 year high of $12.48. The stock’s fifty day simple moving average is $10.17 and its two-hundred day simple moving average is $10.15.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e)” rating on shares of Pelican Acquisition in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Pelican Acquisition has an average rating of “Sell”.

Institutional Investors Weigh In On Pelican Acquisition

A number of hedge funds and other institutional investors have recently made changes to their positions in PELI. Toronto Dominion Bank acquired a new stake in Pelican Acquisition during the fourth quarter worth approximately $246,000. BNP Paribas Financial Markets acquired a new position in Pelican Acquisition in the 3rd quarter valued at $335,000. Heights Capital Management Inc. bought a new stake in shares of Pelican Acquisition during the 3rd quarter valued at $503,000. Stoic Point Capital Management LLC acquired a new stake in shares of Pelican Acquisition during the 4th quarter worth $660,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Pelican Acquisition during the 3rd quarter worth $855,000.

About Pelican Acquisition

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.