Short Interest in Pelican Acquisition Corporation (NASDAQ:PELI) Rises By 50.7%

Pelican Acquisition Corporation (NASDAQ:PELI) saw a significant growth in short interest in March. As of March 13th, there was short interest totaling 84,463 shares, a growth of 50.7% from the February 26th total of 56,064 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily volume of 270,981 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On Pelican Acquisition

A number of hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank bought a new stake in Pelican Acquisition during the 4th quarter valued at approximately $246,000. BNP Paribas Financial Markets bought a new position in Pelican Acquisition in the 3rd quarter worth approximately $335,000. Heights Capital Management Inc. bought a new position in Pelican Acquisition in the 3rd quarter worth approximately $503,000. Stoic Point Capital Management LLC purchased a new stake in Pelican Acquisition during the 4th quarter valued at approximately $660,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Pelican Acquisition during the third quarter valued at approximately $855,000.

Pelican Acquisition Price Performance

Shares of Pelican Acquisition stock opened at $8.23 on Monday. Pelican Acquisition has a fifty-two week low of $7.52 and a fifty-two week high of $12.48. The company has a fifty day moving average of $10.17 and a 200 day moving average of $10.15.

Wall Street Analysts Forecast Growth

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