Pelican Acquisition Corporation (NASDAQ:PELI) Short Interest Update

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC acquired a new stake in Pelican Acquisition during the 2nd quarter worth $4,541,000. Clear Street LLC acquired a new stake in Pelican Acquisition in the 2nd quarter valued at about $4,295,000. Linden Advisors LP acquired a new stake in Pelican Acquisition in the 2nd quarter valued at about $3,700,000. AQR Arbitrage LLC purchased a new position in Pelican Acquisition in the 2nd quarter worth approximately $3,700,000. Finally, Berkley W R Corp acquired a new position in shares of Pelican Acquisition during the 2nd quarter worth approximately $3,540,000.

Wall Street Analysts Forecast Growth

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

Pelican Acquisition Stock Down 1.8%

Shares of PELI traded down $0.19 during mid-day trading on Thursday, hitting $10.61. 447,575 shares of the company were exchanged, compared to its average volume of 647,178. Pelican Acquisition has a 1-year low of $8.98 and a 1-year high of $11.49. The firm’s 50 day simple moving average is $10.34.

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

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.