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

uCloudlink Group Inc. (NASDAQ:UCL) saw a large increase in short interest in 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. Based on an average daily trading volume, of 253,000 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.5% of the shares of the company are short sold.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. XTX Topco Ltd acquired a new stake in shares of uCloudlink Group during the 4th quarter worth about $26,000. Two Sigma Securities LLC acquired a new position in uCloudlink Group in the 4th quarter valued at about $38,000. Finally, Renaissance Technologies LLC grew 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 valued at $115,000 after acquiring an additional 23,900 shares in the last quarter. Hedge funds and other institutional investors own 85.54% of the company’s stock.

uCloudlink Group Price Performance

Shares of NASDAQ UCL opened at $1.25 on Monday. uCloudlink Group has a 12 month low of $0.97 and a 12 month high of $3.30. The stock has a market capitalization of $46.81 million, a price-to-earnings ratio of 11.36 and a beta of 4.13. The firm’s 50 day simple moving average is $1.34 and its 200-day simple moving average is $1.36.

uCloudlink Group (NASDAQ:UCL) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The company had revenue of $25.96 million for the quarter, compared to analyst estimates of $25.15 million. uCloudlink Group had a return on equity of 22.48% and a net margin of 4.84%. Analysts anticipate that uCloudlink Group will post 0.1 earnings per share for the current fiscal year.

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.