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

uCloudlink Group Inc. (NASDAQ:UCL) was the target of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 41,300 shares, a decrease of 51.2% from the February 28th total of 84,700 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 246,200 shares, the short-interest ratio is presently 0.2 days.

uCloudlink Group Stock Up 0.8 %

UCL opened at $1.24 on Friday. uCloudlink Group has a 52 week low of $0.97 and a 52 week high of $3.30. The business has a 50 day moving average price of $1.30 and a two-hundred day moving average price of $1.35. The company has a market cap of $46.44 million, a PE ratio of 11.27 and a beta of 4.13.

uCloudlink Group (NASDAQ:UCL) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. The firm had revenue of $25.96 million during 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%. As a group, sell-side analysts expect that uCloudlink Group will post 0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in UCL. Two Sigma Securities LLC purchased a new position in shares of uCloudlink Group during the 4th quarter worth approximately $38,000. XTX Topco Ltd acquired a new position in uCloudlink Group during the fourth quarter worth $26,000. Finally, Renaissance Technologies LLC raised its position in uCloudlink Group by 77.3% in the fourth quarter. Renaissance Technologies LLC now owns 54,805 shares of the company’s stock worth $115,000 after acquiring an additional 23,900 shares in the last quarter. 85.54% of the stock is owned by hedge funds and other institutional investors.

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.