Pelican Acquisition (NASDAQ:PELI) Shares Down 0.2% – Should You Sell?

Pelican Acquisition Corporation (NASDAQ:PELI) shares traded down 0.2% during trading on Friday . The company traded as low as $10.25 and last traded at $10.27. 155,351 shares traded hands during trading, a decline of 28% from the average session volume of 215,048 shares. The stock had previously closed at $10.29.

Wall Street Analysts Forecast Growth

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, Pelican Acquisition has an average rating of “Sell”.

Pelican Acquisition Stock Performance

The firm’s 50 day moving average is $10.42 and its two-hundred day moving average is $10.20.

Hedge Funds Weigh In On Pelican Acquisition

Several institutional investors and hedge funds have recently made changes to their positions in PELI. Toronto Dominion Bank acquired a new stake in Pelican Acquisition during the 4th quarter worth $246,000. BNP Paribas Financial Markets bought a new stake in shares of Pelican Acquisition in the third quarter worth about $335,000. Warberg Asset Management LLC acquired a new stake in shares of Pelican Acquisition during the second quarter worth about $500,000. Heights Capital Management Inc. bought a new position in shares of Pelican Acquisition during the 3rd quarter valued at about $503,000. Finally, Stoic Point Capital Management LLC acquired a new position in shares of Pelican Acquisition in the 4th quarter valued at approximately $660,000.

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.