Heights Capital Management Inc. Takes $503,000 Position in Pelican Acquisition Corporation $PELI

Heights Capital Management Inc. bought a new position in Pelican Acquisition Corporation (NASDAQ:PELI) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $503,000.

A number of other hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets bought a new position in Pelican Acquisition during the 3rd quarter valued at about $335,000. Warberg Asset Management LLC bought a new stake in Pelican Acquisition during the second quarter worth about $500,000. Schonfeld Strategic Advisors LLC bought a new stake in Pelican Acquisition during the third quarter worth about $855,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Pelican Acquisition during the second quarter worth approximately $1,000,000. Finally, Whitebox Advisors LLC acquired a new stake in shares of Pelican Acquisition during the third quarter worth approximately $1,509,000.

Pelican Acquisition Stock Performance

Shares of NASDAQ:PELI opened at $10.32 on Wednesday. The business has a fifty day moving average of $10.43 and a 200-day moving average of $10.22. Pelican Acquisition Corporation has a twelve month low of $8.98 and a twelve month high of $12.48.

Analyst Ratings Changes

Separately, Weiss Ratings reissued 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, Based on data from MarketBeat.com, Pelican Acquisition 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.