Pelican Acquisition (NASDAQ:PELI) Shares Down 0.2% – Time to Sell?

Shares of Pelican Acquisition Corporation (NASDAQ:PELI) traded down 0.2% during trading on Friday . The stock traded as low as $10.25 and last traded at $10.27. 155,351 shares were traded 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 Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e)” rating on shares of Pelican Acquisition in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Pelican Acquisition Price Performance

The stock has a 50-day moving average of $10.42 and a 200-day moving average of $10.20.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Meteora Capital LLC acquired a new stake in Pelican Acquisition in the 4th quarter valued at $7,628,000. Berkley W R Corp grew its holdings in shares of Pelican Acquisition by 11.6% in the 4th quarter. Berkley W R Corp now owns 578,199 shares of the company’s stock valued at $5,869,000 after acquiring an additional 60,238 shares in the last quarter. Wolverine Asset Management LLC increased its position in shares of 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 acquiring an additional 8,838 shares during the last quarter. Clear Street LLC bought a new stake in Pelican Acquisition during the second quarter worth about $4,295,000. Finally, Linden Advisors LP acquired a new position in Pelican Acquisition during the second quarter valued at approximately $3,700,000.

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.