Pelican Acquisition's (PELI) "Sell (E)" Rating Reiterated at Weiss Ratings

Key Points

• Pelican Acquisition (NASDAQ: PELI) has had its "sell (e)" rating reaffirmed by Weiss Ratings in a recent research note.
• The stock opened at $10.06 and is trading close to its one-year high of $10.08, with a low of $8.98.
• Institutional investors have been active, with multiple firms making new positions in Pelican Acquisition during the second quarter, totaling significant investments up to $2.52 million.

Pelican Acquisition (NASDAQ:PELI - Get Free Report)'s stock had its "sell (e)" rating reaffirmed by investment analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Pelican Acquisition Trading Down 0.2%

PELI opened at $10.06 on Wednesday. The company's 50 day simple moving average is $10.03. Pelican Acquisition has a one year low of $8.98 and a one year high of $10.08.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Warberg Asset Management LLC bought a new position in Pelican Acquisition in the second quarter worth approximately $500,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Pelican Acquisition in the second quarter worth approximately $1,000,000. Mint Tower Capital Management B.V. bought a new position in Pelican Acquisition in the second quarter worth approximately $1,505,000. Magnetar Financial LLC bought a new position in Pelican Acquisition in the second quarter worth approximately $1,951,000. Finally, Radcliffe Capital Management L.P. bought a new position in Pelican Acquisition in the second quarter worth approximately $2,520,000.

About Pelican Acquisition

We are a newly formed blank check company incorporated as a Cayman Islands exempted company on July 23, 2024 under the laws of the Cayman Islands with limited liability, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities, which we refer to throughout this prospectus as our initial business combination.

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