Short Interest in uCloudlink Group Inc. (NASDAQ:UCL) Drops By 51.2%

uCloudlink Group Inc. (NASDAQ:UCL) saw a significant decrease in short interest in March. As of March 15th, there was short interest totalling 41,300 shares, a decrease of 51.2% from the February 28th total of 84,700 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 246,200 shares, the days-to-cover ratio is presently 0.2 days.

uCloudlink Group Stock Up 0.8 %

UCL opened at $1.25 on Friday. The stock’s fifty day moving average is $1.30 and its two-hundred day moving average is $1.35. The company has a market capitalization of $46.81 million, a P/E ratio of 11.36 and a beta of 4.13. uCloudlink Group has a 52 week low of $0.97 and a 52 week high of $3.30.

uCloudlink Group (NASDAQ:UCL) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. uCloudlink Group had a return on equity of 22.48% and a net margin of 4.84%. The firm had revenue of $25.96 million for the quarter, compared to analyst estimates of $25.15 million. Equities analysts anticipate that uCloudlink Group will post 0.1 earnings per share for the current year.

Institutional Investors Weigh In On uCloudlink Group

Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC raised its stake in uCloudlink Group by 77.3% in the fourth quarter. Renaissance Technologies LLC now owns 54,805 shares of the company’s stock worth $115,000 after buying an additional 23,900 shares in the last quarter. Two Sigma Securities LLC purchased a new position in shares of uCloudlink Group in the 4th quarter valued at $38,000. Finally, XTX Topco Ltd bought a new position in shares of uCloudlink Group in the 4th quarter worth $26,000. Hedge funds and other institutional investors own 85.54% of the company’s stock.

uCloudlink Group Company Profile

uCloudlink Group Inc operates as a mobile data traffic sharing marketplace in the telecommunications industry. The company provides uCloudlink 1.0, a model that focuses on cross-border travelers that need mobile data connectivity services in various countries; and operates portable Wi-Fi services under the Roamingman name in China and Malaysia, which provides global mobile data connectivity services, as well as offers GlocalMe portable Wi-Fi terminals and cloud SIM architecture for mobile virtual network operators, mobile network operators (MNOs), and portable Wi-Fi terminal rental companies.