Pelican Acquisition Corporation (NASDAQ:PELI) Short Interest Update

Pelican Acquisition Corporation (NASDAQ:PELI) was the target of a large drop in short interest in the month of February. As of February 13th, there was short interest totaling 46,448 shares, a drop of 14.1% from the January 29th total of 54,066 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average trading volume of 253,189 shares, the short-interest ratio is currently 0.2 days. Based on an average trading volume of 253,189 shares, the short-interest ratio is currently 0.2 days. Currently, 0.4% of the company’s shares are sold short.

Hedge Funds Weigh In On Pelican Acquisition

A number of institutional investors have recently bought and sold shares of PELI. Warberg Asset Management LLC bought a new stake in Pelican Acquisition in the 2nd quarter valued at $500,000. Wealthspring Capital LLC bought a new position in shares of Pelican Acquisition in the third quarter valued at about $2,397,000. Clear Street LLC bought a new stake in shares of Pelican Acquisition during the 2nd quarter worth about $4,295,000. Berkley W R Corp acquired a new position in Pelican Acquisition in the 2nd quarter valued at about $3,540,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Pelican Acquisition in the 2nd quarter valued at about $1,000,000.

Pelican Acquisition Stock Performance

NASDAQ PELI traded up $0.01 on Wednesday, hitting $10.28. 61,528 shares of the stock were exchanged, compared to its average volume of 437,150. The business’s fifty day moving average is $10.42 and its 200 day moving average is $10.21. Pelican Acquisition has a 52 week low of $8.98 and a 52 week high of $11.49.

Analysts Set New Price Targets

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