Pioneer Acquisition I Corp. (NASDAQ:PACH) Sees Large Decrease in Short Interest

Pioneer Acquisition I Corp. (NASDAQ:PACH) saw a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 1,050 shares, a decrease of 34.9% from the June 30th total of 1,612 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average trading volume of 46,541 shares, the days-to-cover ratio is currently 0.0 days.

Hedge Funds Weigh In On Pioneer Acquisition I

Several institutional investors have recently modified their holdings of the business. MMCAP International Inc. SPC bought a new stake in Pioneer Acquisition I during the 4th quarter worth approximately $7,538,000. Sona Asset Management US LLC acquired a new stake in Pioneer Acquisition I during the 1st quarter worth approximately $1,125,000. Lineage Point Capital LP bought a new position in Pioneer Acquisition I in the fourth quarter valued at approximately $1,073,000. Mint Tower Capital Management B.V. bought a new position in Pioneer Acquisition I in the fourth quarter valued at approximately $4,020,000. Finally, Magnetar Financial LLC acquired a new position in shares of Pioneer Acquisition I in the fourth quarter valued at approximately $10,060,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Pioneer Acquisition I in a research note on Wednesday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Pioneer Acquisition I Stock Performance

PACH opened at $10.28 on Friday. Pioneer Acquisition I has a 12 month low of $9.94 and a 12 month high of $10.29. The company has a fifty day simple moving average of $10.25 and a 200 day simple moving average of $10.18.

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

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.