Pelican Acquisition Corporation (NASDAQ:PELI) Short Interest Update

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

Institutional Investors Weigh In On Pelican Acquisition

A number of hedge funds and other institutional investors have recently modified their holdings of PELI. Stoic Point Capital Management LLC purchased a new position in shares of Pelican Acquisition in the fourth quarter valued at about $660,000. Toronto Dominion Bank purchased a new stake in Pelican Acquisition during the 4th quarter valued at about $246,000. Rivernorth Capital Management LLC grew its holdings in shares of Pelican Acquisition by 50.6% during the fourth quarter. Rivernorth Capital Management LLC now owns 297,500 shares of the company’s stock valued at $3,020,000 after buying an additional 100,000 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its position in Pelican Acquisition by 5.9% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 89,975 shares of the company’s stock valued at $913,000 after acquiring an additional 4,975 shares in the last quarter. Finally, Meteora Capital LLC purchased a new stake in Pelican Acquisition during the 4th quarter valued at $7,628,000.

Analyst Ratings Changes

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

Pelican Acquisition Trading Up 0.1%

PELI stock traded up $0.01 during mid-day trading on Wednesday, hitting $10.28. 61,528 shares of the stock were exchanged, compared to its average volume of 437,150. The business has a fifty day moving average price of $10.42 and a 200 day moving average price of $10.21. Pelican Acquisition has a 12 month low of $8.98 and a 12 month high of $11.49.

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.