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

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

uCloudlink Group Trading Up 0.8 %

NASDAQ UCL opened at $1.25 on Friday. The firm has a market cap of $46.81 million, a price-to-earnings ratio of 11.36 and a beta of 4.13. uCloudlink Group has a 1-year low of $0.97 and a 1-year high of $3.30. The company has a 50 day moving average of $1.30 and a 200-day moving average of $1.35.

uCloudlink Group (NASDAQ:UCL) last announced its earnings results on Thursday, March 13th. The company reported ($0.04) EPS for the quarter, topping 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 company had revenue of $25.96 million for the quarter, compared to analysts’ expectations of $25.15 million. On average, analysts forecast that uCloudlink Group will post 0.1 earnings per share for the current year.

Institutional Trading of uCloudlink Group

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

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.