Short Interest in Pioneer Acquisition I Corp. (NASDAQ:PACH) Increases By 76.3%

Pioneer Acquisition I Corp. (NASDAQ:PACH) saw a significant increase in short interest in 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. Approximately 0.0% of the company’s shares are short sold. Based on an average trading volume of 49,788 shares, the short-interest ratio is currently 0.0 days.

Pioneer Acquisition I Price Performance

PACH stock remained flat at $10.30 during midday trading on Monday. The company’s stock had a trading volume of 8,055 shares, compared to its average volume of 30,771. Pioneer Acquisition I has a twelve month low of $9.94 and a twelve month high of $10.31. The company’s 50-day moving average price is $10.26 and its two-hundred day moving average price is $10.20.

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

Hedge Funds Weigh In On Pioneer Acquisition I

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

Analysts Set New Price Targets

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

Pioneer Acquisition I Company Profile

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.