uCloudlink Group Inc. (NASDAQ:UCL) Short Interest Down 54.2% in March

uCloudlink Group Inc. (NASDAQ:UCL) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 18,900 shares, a decline of 54.2% from the March 15th total of 41,300 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily volume of 98,000 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On uCloudlink Group

Institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd purchased a new stake in uCloudlink Group during the fourth quarter valued at approximately $26,000. Two Sigma Securities LLC bought a new stake in shares of uCloudlink Group during the 4th quarter valued at $38,000. Finally, Renaissance Technologies LLC increased its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 85.54% of the company’s stock.

uCloudlink Group Price Performance

NASDAQ UCL opened at $0.98 on Thursday. The stock has a market capitalization of $36.62 million, a price-to-earnings ratio of 8.89 and a beta of 4.01. uCloudlink Group has a 1-year low of $0.95 and a 1-year high of $3.30. The business’s fifty day moving average price is $1.20 and its 200-day moving average price is $1.33.

uCloudlink Group (NASDAQ:UCL) last posted its earnings results 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 the consensus estimate of $25.15 million. uCloudlink Group had a return on equity of 22.48% and a net margin of 4.84%. Equities research analysts anticipate that uCloudlink Group will post 0.1 EPS for the current 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.