Short Interest in Pelican Acquisition Corporation (NASDAQ:PELI) Rises By 20.7%
by Renee Jackson · The Cerbat GemPelican Acquisition Corporation (NASDAQ:PELI – Get Free Report) saw a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 56,064 shares, an increase of 20.7% from the February 12th total of 46,448 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average trading volume of 173,662 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 173,662 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.5% of the shares of the company are sold short.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Meteora Capital LLC acquired a new stake in shares of Pelican Acquisition during the 4th quarter valued at $7,628,000. Berkley W R Corp increased its holdings in Pelican Acquisition by 11.6% in the 4th quarter. Berkley W R Corp now owns 578,199 shares of the company’s stock worth $5,869,000 after purchasing an additional 60,238 shares in the last quarter. Wolverine Asset Management LLC raised its position in Pelican Acquisition by 2.0% in the third quarter. Wolverine Asset Management LLC now owns 461,569 shares of the company’s stock valued at $4,643,000 after purchasing an additional 8,838 shares during the last quarter. Clear Street LLC bought a new position in Pelican Acquisition in the second quarter valued at about $4,295,000. Finally, Linden Advisors LP acquired a new stake in shares of Pelican Acquisition during the second quarter valued at about $3,700,000.
Pelican Acquisition Trading Up 1.6%
Shares of Pelican Acquisition stock traded up $0.16 during midday trading on Tuesday, hitting $10.32. 182,491 shares of the company traded hands, compared to its average volume of 414,831. The firm’s fifty day moving average price is $10.43 and its 200-day moving average price is $10.22. Pelican Acquisition has a 12 month low of $8.98 and a 12 month high of $12.48.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a “sell (e)” rating on shares of Pelican Acquisition in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.
View Our Latest Research Report on PELI
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.