Needham & Company LLC Issues Pessimistic Forecast for Urgent.ly (NASDAQ:ULY) Stock Price

Urgent.ly (NASDAQ:ULY) had its target price trimmed by Needham & Company LLC from $1.50 to $1.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Urgent.ly Trading Down 4.2 %

Shares of NASDAQ:ULY opened at $0.29 on Friday. The company has a market cap of $3.93 million, a price-to-earnings ratio of 0.03 and a beta of 0.85. The company has a 50-day moving average price of $0.51 and a 200-day moving average price of $0.60. Urgent.ly has a 12 month low of $0.25 and a 12 month high of $3.31.

Urgent.ly’s stock is scheduled to reverse split on the morning of Tuesday, March 18th. The 1-12 reverse split was announced on Thursday, March 13th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, March 17th.

Urgent.ly (NASDAQ:ULY) last released its quarterly earnings results on Wednesday, March 12th. The company reported ($0.65) earnings per share (EPS) for the quarter. The company had revenue of $32.03 million for the quarter.

Institutional Investors Weigh In On Urgent.ly

An institutional investor recently bought a new position in Urgent.ly stock. Toronto Dominion Bank bought a new position in Urgent.ly Inc. (NASDAQ:ULY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 165,750 shares of the company’s stock, valued at approximately $85,000. Toronto Dominion Bank owned about 1.23% of Urgent.ly at the end of the most recent quarter. 28.30% of the stock is currently owned by institutional investors and hedge funds.

Urgent.ly Company Profile

Urgent.ly Inc offers mobility assistance software platform for roadside assistance in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its services include car lockout, tire changes, towing, stuck in ditch and winch services, motorcycle towing, electric vehicle towing, jump start, and gas delivery.