Pelican Acquisition II Corp. (NASDAQ:PLCIU – Get Free Report) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 891 shares, a decrease of 52.6% from the September 15th total of 1,878 shares. Based on an average daily volume of 2,304 shares, the days-to-cover ratio is presently 0.4 days.
Pelican Acquisition II Stock Performance
Shares of NASDAQ:PLCIU remained flat at $10.03 during trading on Wednesday. The stock’s fifty day moving average price is $10.02. Pelican Acquisition II has a twelve month low of $9.95 and a twelve month high of $10.41.
Analysts Set New Price Targets
Separately, Wall Street Zen upgraded shares of Pelican Acquisition II to a “hold” rating in a research note on Saturday, August 1st.
About Pelican Acquisition II
Pelican Acquisition II is a special purpose acquisition company (SPAC) whose securities trade on the Nasdaq under the symbol PLCIU. As a blank-check company, it was formed to identify and complete a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more operating businesses.
Unlike an operating company, Pelican Acquisition II does not appear to conduct a separate commercial business or offer products and services of its own.
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