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

uCloudlink Group Inc. (NASDAQ:UCL) was the recipient of a significant drop in short interest in March. As of March 15th, there was short interest totalling 41,300 shares, a drop 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 volume of 246,200 shares, the short-interest ratio is presently 0.2 days.

Institutional Investors Weigh In On uCloudlink Group

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

uCloudlink Group Trading Up 0.8 %

NASDAQ:UCL opened at $1.25 on Friday. The business’s 50-day moving average is $1.30 and its 200 day moving average is $1.35. uCloudlink Group has a 12 month low of $0.97 and a 12 month high of $3.30. 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 (NASDAQ:UCL) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.04) earnings per share (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 business had revenue of $25.96 million for the quarter, compared to analysts’ expectations of $25.15 million. On average, research analysts forecast that uCloudlink Group will post 0.1 earnings per share for the current year.

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.