uCloudlink Group Inc. (NASDAQ:UCL – Get Free Report) was the recipient of a significant increase in short interest during 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 volume of 253,000 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.5% of the company’s stock are short sold.
Institutional Trading of uCloudlink Group
Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd purchased a new stake in shares of uCloudlink Group during the fourth quarter valued at approximately $26,000. Two Sigma Securities LLC purchased a new stake in shares of uCloudlink Group during the fourth quarter valued at approximately $38,000. Finally, Renaissance Technologies LLC grew its holdings in uCloudlink Group by 77.3% during the fourth quarter. Renaissance Technologies LLC now owns 54,805 shares of the company’s stock valued at $115,000 after purchasing an additional 23,900 shares during the period. 85.54% of the stock is owned by hedge funds and other institutional investors.
uCloudlink Group Stock Up 1.6 %
Shares of uCloudlink Group stock opened at $1.25 on Friday. The company has a market cap of $46.81 million, a PE ratio of 11.36 and a beta of 4.13. The business has a 50 day moving average price of $1.34 and a 200-day moving average price of $1.36. uCloudlink Group has a 52 week low of $0.97 and a 52 week high of $3.30.
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.
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