uCloudlink Group Inc. (NASDAQ:UCL) Sees Significant Drop in Short Interest

uCloudlink Group Inc. (NASDAQ:UCLGet Rating) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 78,400 shares, a decline of 60.1% from the April 30th total of 196,600 shares. Based on an average trading volume of 37,000 shares, the days-to-cover ratio is presently 2.1 days.

Institutional Trading of uCloudlink Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UCL. Renaissance Technologies LLC grew its holdings in uCloudlink Group by 118.7% during the 1st quarter. Renaissance Technologies LLC now owns 32,800 shares of the company’s stock worth $58,000 after acquiring an additional 17,800 shares during the period. Morgan Stanley grew its holdings in shares of uCloudlink Group by 146,651.6% in the 4th quarter. Morgan Stanley now owns 90,986 shares of the company’s stock valued at $304,000 after buying an additional 90,924 shares during the period. Marshall Wace LLP acquired a new position in uCloudlink Group during the fourth quarter valued at approximately $594,000. Finally, Nomura Holdings Inc. bought a new position in shares of uCloudlink Group during the 3rd quarter worth approximately $548,000.

Wall Street Analysts Forecast Growth

Separately, Litchfield Hills Research reaffirmed a “buy” rating on shares of uCloudlink Group in a research report on Monday, April 24th.

uCloudlink Group Price Performance

Shares of NASDAQ UCL traded down $0.10 during trading hours on Friday, reaching $3.66. The stock had a trading volume of 3,430 shares, compared to its average volume of 46,762. The business’s fifty day moving average is $3.93 and its two-hundred day moving average is $3.93. uCloudlink Group has a twelve month low of $0.46 and a twelve month high of $6.60. The company has a market cap of $105.04 million, a price-to-earnings ratio of -11.06 and a beta of 4.51.

uCloudlink Group (NASDAQ:UCLGet Rating) last posted its quarterly earnings data on Wednesday, March 15th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.05. The company had revenue of $19.61 million during the quarter, compared to analyst estimates of $20.18 million. uCloudlink Group had a negative net margin of 13.36% and a negative return on equity of 14.02%. Sell-side analysts forecast that uCloudlink Group will post -0.05 earnings per share for the current fiscal year.

uCloudlink Group Company Profile

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uCloudlink Group Inc operates as a mobile data traffic sharing marketplace in the telecommunications industry. It 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.

Further Reading

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