Pelican Acquisition Corporation (NASDAQ:PELI) Sees Large Growth in Short Interest

Pelican Acquisition Corporation (NASDAQ:PELI) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totaling 48,161 shares, a growth of 362.1% from the December 31st total of 10,422 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 457,687 shares, the short-interest ratio is currently 0.1 days. Based on an average daily trading volume, of 457,687 shares, the short-interest ratio is currently 0.1 days. Currently, 0.4% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e)” rating on shares of Pelican Acquisition in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Pelican Acquisition Price Performance

NASDAQ PELI opened at $11.00 on Wednesday. The company has a fifty day simple moving average of $10.31. Pelican Acquisition has a 12-month low of $8.98 and a 12-month high of $11.49.

Pelican Acquisition (NASDAQ:PELI) last released its quarterly earnings data on Monday, September 15th. The company reported $0.03 earnings per share for the quarter.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PELI. BNP Paribas Financial Markets bought a new stake in Pelican Acquisition during the third quarter worth $335,000. Warberg Asset Management LLC purchased a new position in shares of Pelican Acquisition in the 2nd quarter worth about $500,000. Heights Capital Management Inc. purchased a new position in Pelican Acquisition in the third quarter valued at about $503,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Pelican Acquisition during the 3rd quarter worth approximately $855,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Pelican Acquisition during the second quarter valued at $1,000,000.

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.