Short Interest in uCloudlink Group Inc. (NASDAQ:UCL) Grows By 58.3%

uCloudlink Group Inc. (NASDAQ:UCL) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 84,700 shares, an increase of 58.3% from the February 13th total of 53,500 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily trading volume, of 253,000 shares, the days-to-cover ratio is presently 0.3 days.

uCloudlink Group Stock Up 1.6 %

Shares of UCL stock traded up $0.02 during trading hours on Friday, reaching $1.25. 36,088 shares of the company’s stock were exchanged, compared to its average volume of 88,300. uCloudlink Group has a fifty-two week low of $0.97 and a fifty-two week high of $3.30. The stock has a market capitalization of $46.81 million, a P/E ratio of 11.36 and a beta of 4.13. The business has a fifty day moving average price of $1.34 and a 200-day moving average price of $1.36.

uCloudlink Group (NASDAQ:UCL) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $25.15 million. As a group, research analysts expect that uCloudlink Group will post 0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

About uCloudlink Group

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.