Heights Capital Management Inc. Makes New $503,000 Investment in Pelican Acquisition Corporation $PELI

Heights Capital Management Inc. acquired a new position in shares of Pelican Acquisition Corporation (NASDAQ:PELI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 50,000 shares of the company’s stock, valued at approximately $503,000. Heights Capital Management Inc. owned approximately 0.42% of Pelican Acquisition at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Berkley W R Corp raised its stake in shares of Pelican Acquisition by 46.8% in the third quarter. Berkley W R Corp now owns 517,961 shares of the company’s stock valued at $5,211,000 after purchasing an additional 165,054 shares in the last quarter. Wolverine Asset Management LLC boosted its stake in Pelican Acquisition by 2.0% during the third quarter. Wolverine Asset Management LLC now owns 461,569 shares of the company’s stock worth $4,643,000 after buying an additional 8,838 shares in the last quarter. Clear Street LLC bought a new stake in Pelican Acquisition in the 2nd quarter valued at $4,295,000. Linden Advisors LP bought a new stake in Pelican Acquisition in the 2nd quarter valued at $3,700,000. Finally, AQR Arbitrage LLC acquired a new position in shares of Pelican Acquisition in the 2nd quarter valued at $3,700,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed 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, the stock has a consensus rating of “Sell”.

Pelican Acquisition Price Performance

Shares of PELI opened at $10.32 on Wednesday. Pelican Acquisition Corporation has a 1 year low of $8.98 and a 1 year high of $12.48. The stock has a 50 day simple moving average of $10.43 and a 200-day simple moving average of $10.22.

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.