Short Interest in Pelican Acquisition Corporation (NASDAQ:PELI) Expands By 20.7%

Pelican Acquisition Corporation (NASDAQ:PELI) saw a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 56,064 shares, an increase of 20.7% from the February 12th total of 46,448 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily volume of 173,662 shares, the short-interest ratio is presently 0.3 days. Based on an average daily volume of 173,662 shares, the short-interest ratio is presently 0.3 days. Approximately 0.5% of the company’s shares are sold short.

Pelican Acquisition Stock Up 1.6%

Shares of PELI opened at $10.32 on Wednesday. Pelican Acquisition has a twelve month low of $8.98 and a twelve month high of $12.48. The firm’s 50 day moving average price is $10.43 and its two-hundred day moving average price is $10.22.

Institutional Investors Weigh In On Pelican Acquisition

Several institutional investors have recently added to or reduced their stakes in PELI. Toronto Dominion Bank acquired a new position in Pelican Acquisition in the 4th quarter worth $246,000. BNP Paribas Financial Markets acquired a new stake in shares of Pelican Acquisition in the 3rd quarter valued at about $335,000. Warberg Asset Management LLC bought a new stake in shares of Pelican Acquisition in the second quarter valued at about $500,000. Heights Capital Management Inc. bought a new stake in shares of Pelican Acquisition in the third quarter valued at about $503,000. Finally, Stoic Point Capital Management LLC acquired a new position in shares of Pelican Acquisition during the fourth quarter worth about $660,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued 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, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Pelican Acquisition Company Profile

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.