Pelican Acquisition Corporation (NASDAQ:PELI) Short Interest Up 50.7% in March

Pelican Acquisition Corporation (NASDAQ:PELI) saw a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 84,463 shares, an increase of 50.7% from the February 26th total of 56,064 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average trading volume of 270,981 shares, the days-to-cover ratio is currently 0.3 days.

Pelican Acquisition Stock Performance

Shares of NASDAQ PELI remained flat at $8.23 during mid-day trading on Friday. Pelican Acquisition has a 52-week low of $7.52 and a 52-week high of $12.48. The company has a 50-day simple moving average of $10.17 and a two-hundred day simple moving average of $10.15.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued 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, the company currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank bought a new stake in shares of Pelican Acquisition in the fourth quarter valued at about $246,000. BNP Paribas Financial Markets acquired a new position in Pelican Acquisition during the third quarter worth $335,000. Heights Capital Management Inc. acquired a new position in Pelican Acquisition during the third quarter worth $503,000. Stoic Point Capital Management LLC bought a new position in Pelican Acquisition in the fourth quarter valued at $660,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in Pelican Acquisition in the third quarter valued at $855,000.

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.