Short Interest in Pelican Acquisition Corporation (NASDAQ:PELI) Increases By 362.1%

Pelican Acquisition Corporation (NASDAQ:PELI) saw a large growth in short interest in January. As of January 15th, there was short interest totaling 48,161 shares, a growth of 362.1% from the December 31st total of 10,422 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 457,687 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 457,687 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new position in shares of Pelican Acquisition during the third quarter valued at $335,000. Warberg Asset Management LLC acquired a new position in Pelican Acquisition during the 2nd quarter valued at about $500,000. Heights Capital Management Inc. bought a new position in Pelican Acquisition in the 3rd quarter worth about $503,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Pelican Acquisition in the third quarter valued at approximately $855,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Pelican Acquisition in the second quarter valued at approximately $1,000,000.

Pelican Acquisition Trading Down 1.8%

Shares of NASDAQ:PELI opened at $10.61 on Friday. Pelican Acquisition has a 52-week low of $8.98 and a 52-week high of $11.49. The firm has a fifty day moving average of $10.34.

Pelican Acquisition (NASDAQ:PELI) last issued its quarterly earnings results on Monday, September 15th. The company reported $0.03 earnings per share for the quarter.

Analyst Ratings Changes

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

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.