Pelican Acquisition II Corp. (NASDAQ:PLCIU) Shares Shorted: Short Interest Down 52.6% in September

Pelican Acquisition II Corp. (NASDAQ:PLCIU) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totaling 891 shares, a decrease of 52.6% from the September 15th total of 1,878 shares. Based on an average daily trading volume, of 2,304 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Pelican Acquisition II to a “hold” rating in a research note on Saturday, August 1st.

Pelican Acquisition II Price Performance

PLCIU remained flat at $10.03 during trading on Thursday. Pelican Acquisition II has a twelve month low of $9.95 and a twelve month high of $10.41. The firm’s 50 day simple moving average is $10.02.

Pelican Acquisition II Company Profile

Pelican Acquisition II is a special purpose acquisition company (SPAC) whose securities trade on the Nasdaq under the symbol PLCIU. As a blank-check company, it was formed to identify and complete a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more operating businesses.

Unlike an operating company, Pelican Acquisition II does not appear to conduct a separate commercial business or offer products and services of its own.