Pelican Acquisition II Corp. (NASDAQ:PLCIU – Get Free Report) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 3,497 shares, a decrease of 51.2% from the August 15th total of 7,172 shares. Based on an average daily trading volume, of 4,286 shares, the days-to-cover ratio is currently 0.8 days.
Pelican Acquisition II Stock Down 0.5%
Shares of Pelican Acquisition II stock traded down $0.05 during trading hours on Wednesday, reaching $10.02. The company’s stock had a trading volume of 1,305 shares, compared to its average volume of 43,458. Pelican Acquisition II has a one year low of $9.95 and a one year high of $10.41.
Analyst Ratings Changes
Separately, Wall Street Zen raised Pelican Acquisition II to a “hold” rating in a research note on Saturday, August 1st.
Pelican Acquisition II Company Profile
Pelican Acquisition II, also known as Pelican Acquisition Corporation II, is a special purpose acquisition company (SPAC) listed on the Nasdaq under the symbol PLCIU. The company was formed to pursue a business combination, such as a merger, acquisition, or similar transaction, with one or more operating businesses.
Unlike an operating company, Pelican Acquisition II does not currently offer products or services to customers. Its primary activities involve raising capital through a public offering, evaluating potential acquisition targets, and negotiating a transaction intended to create a publicly traded operating company.
Publicly available information does not identify a completed acquisition, a specific target industry or geography, or sufficient details about the company’s leadership and operations.
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