Pioneer Acquisition I Corp. (NASDAQ:PACH) Short Interest Up 76.3% in July

Pioneer Acquisition I Corp. (NASDAQ:PACH) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 1,851 shares, an increase of 76.3% from the July 15th total of 1,050 shares. Based on an average daily trading volume, of 49,788 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Pioneer Acquisition I in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Hedge Funds Weigh In On Pioneer Acquisition I

Large investors have recently bought and sold shares of the stock. PenderFund Capital Management Ltd. acquired a new position in shares of Pioneer Acquisition I during the fourth quarter valued at approximately $175,000. L1 Global Manager Pty Ltd acquired a new stake in Pioneer Acquisition I in the fourth quarter worth approximately $245,000. ABC Arbitrage SA bought a new position in Pioneer Acquisition I during the 4th quarter valued at $251,000. Stoic Point Capital Management LLC bought a new position in Pioneer Acquisition I during the 4th quarter valued at $339,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of Pioneer Acquisition I during the 3rd quarter valued at $830,000.

Pioneer Acquisition I Price Performance

PACH remained flat at $10.30 during trading on Tuesday. The company had a trading volume of 4,423 shares, compared to its average volume of 30,771. Pioneer Acquisition I has a 52-week low of $9.94 and a 52-week high of $10.31. The business’s 50 day moving average price is $10.26 and its 200 day moving average price is $10.20.

Pioneer Acquisition I (NASDAQ:PACH) last released its quarterly earnings results on Friday, May 15th. The company reported $0.06 EPS for the quarter.

About Pioneer Acquisition I

Pioneer Acquisition I (NASDAQ: PACH) is a publicly traded special purpose acquisition company (SPAC), commonly known as a blank-check company. Like other SPACs, its principal business purpose is to identify, negotiate and complete a business combination with one or more operating companies. Until a qualifying transaction is completed, the entity typically has no substantive operating business of its own and holds capital raised from public investors in trust.

As a SPAC, Pioneer Acquisition I’s activities generally include sourcing potential targets, conducting due diligence, negotiating transaction terms, and seeking shareholder approval for any proposed business combination.