Short Interest in Pioneer Acquisition I Corp. (NASDAQ:PACH) Increases By 76.3%

Key Points

• Short interest rose 76.3% to 1,851 shares as of July 31, up from 1,050 shares on July 15. Despite the increase, short interest represents 0.0% of shares outstanding and a 0.0-day short-interest ratio.
• Analyst sentiment remains bearish: Weiss Ratings reaffirmed a “sell (D-)” rating, and the lone analyst covering Pioneer Acquisition I gives the stock a consensus “Sell” rating.
• PACH shares were unchanged at $10.30, near their 12-month high of $10.31, while several institutional investors—including Magnetar Financial, AQR Arbitrage, and Two Sigma—reported new positions.

Pioneer Acquisition I Corp. (NASDAQ:PACH - Get Free Report) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 1,851 shares, an increase of 76.3% from the July 15th total of 1,050 shares. Based on an average daily trading volume, of 49,788 shares, the short-interest ratio is currently 0.0 days. Currently, 0.0% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Pioneer Acquisition I in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of "Sell".

Pioneer Acquisition I Stock Performance

NASDAQ PACH remained flat at $10.30 on Monday. 8,055 shares of the company's stock were exchanged, compared to its average volume of 30,771. Pioneer Acquisition I has a 12 month low of $9.94 and a 12 month high of $10.31. The firm's 50 day moving average price is $10.26 and its 200-day moving average price is $10.20.

Pioneer Acquisition I (NASDAQ:PACH - Get Free Report) last issued its earnings results on Friday, May 15th. The company reported $0.06 earnings per share for the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PACH. Magnetar Financial LLC bought a new stake in Pioneer Acquisition I in the fourth quarter worth $10,060,000. AQR Arbitrage LLC bought a new position in Pioneer Acquisition I during the third quarter valued at $9,787,000. Two Sigma Investments LP purchased a new position in shares of Pioneer Acquisition I in the 3rd quarter worth $7,927,000. MMCAP International Inc. SPC purchased a new position in shares of Pioneer Acquisition I in the 4th quarter worth $7,538,000. Finally, Shaolin Capital Management LLC bought a new stake in shares of Pioneer Acquisition I in the 3rd quarter worth about $6,972,000.

About Pioneer Acquisition I

Pioneer Acquisition I NASDAQ: PACH is a publicly traded special purpose acquisition company (SPAC), commonly known as a blank-check company. Like other SPACs, its principal business purpose is to identify, negotiate and complete a business combination with one or more operating companies. Until a qualifying transaction is completed, the entity typically has no substantive operating business of its own and holds capital raised from public investors in trust.

As a SPAC, Pioneer Acquisition I's activities generally include sourcing potential targets, conducting due diligence, negotiating transaction terms, and seeking shareholder approval for any proposed business combination.

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