Pioneer Acquisition I Corp. (NASDAQ:PACH) Stock Short Interest Climbs 71.6%

Pioneer Acquisition I Corp. (NASDAQ:PACH) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 2,275 shares, a growth of 71.6% from the September 15th total of 1,326 shares. Based on an average daily volume of 91,521 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are short sold.

Institutional Investors Weigh In On Pioneer Acquisition I

Large investors have recently bought and sold shares of the business. Radcliffe Capital Management L.P. raised its position in Pioneer Acquisition I by 6.2% during the fourth quarter. Radcliffe Capital Management L.P. now owns 629,247 shares of the company’s stock valued at $6,324,000 after purchasing an additional 36,772 shares during the period. Lineage Point Capital LP purchased a new position in shares of Pioneer Acquisition I in the 4th quarter worth approximately $1,073,000. Sona Asset Management US LLC purchased a new position in shares of Pioneer Acquisition I in the 1st quarter worth approximately $1,125,000. Finally, Magnetar Financial LLC purchased a new position in shares of Pioneer Acquisition I in the 4th quarter worth approximately $10,060,000.

Pioneer Acquisition I Stock Down 0.1%

PACH stock traded down $0.01 during mid-day trading on Friday, hitting $10.36. The company had a trading volume of 12,535 shares, compared to its average volume of 50,775. The company has a 50-day moving average price of $10.33 and a 200 day moving average price of $10.26. Pioneer Acquisition I has a 12-month low of $9.99 and a 12-month high of $10.40.

Pioneer Acquisition I (NASDAQ:PACH) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.07 EPS for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Pioneer Acquisition I from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, September 1st. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Pioneer Acquisition I Company Profile

Pioneer Acquisition I Corp. is a special purpose acquisition company (SPAC) organized to identify and complete a merger, share exchange, asset acquisition, or similar business combination with an operating company. As a SPAC, it does not have an established commercial product line or significant operating business of its own.

The company was formed to raise capital through a public offering and place those funds in a trust account while its management team searched for a suitable acquisition target.