Short Interest in uCloudlink Group Inc. Sponsored ADR (NASDAQ:UCL) Declines By 77.4%

uCloudlink Group Inc. Sponsored ADR (NASDAQ:UCL) was the target of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 2,014 shares, a drop of 77.4% from the July 30th total of 8,915 shares. Based on an average daily volume of 38,772 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the company’s stock are short sold.

Institutional Investors Weigh In On uCloudlink Group

An institutional investor recently bought a new position in uCloudlink Group stock. Citadel Advisors LLC bought a new stake in shares of uCloudlink Group Inc. Sponsored ADR (NASDAQ:UCL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 68,311 shares of the company’s stock, valued at approximately $148,000. Citadel Advisors LLC owned about 0.18% of uCloudlink Group at the end of the most recent quarter. 85.54% of the stock is owned by hedge funds and other institutional investors.

uCloudlink Group Price Performance

UCL opened at $0.38 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.46 and a current ratio of 1.58. The stock has a market capitalization of $14.56 million, a P/E ratio of -38.22 and a beta of 4.20. The company’s 50-day simple moving average is $0.80 and its two-hundred day simple moving average is $1.14. uCloudlink Group has a 52-week low of $0.34 and a 52-week high of $3.60.

uCloudlink Group (NASDAQ:UCL) last announced its quarterly earnings results on Tuesday, August 18th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). uCloudlink Group had a negative return on equity of 0.88% and a negative net margin of 0.31%.The company had revenue of $18.23 million during the quarter, compared to the consensus estimate of $20.00 million. As a group, analysts predict that uCloudlink Group will post -0.01 EPS for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings cut uCloudlink Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, uCloudlink Group currently has an average rating of “Sell”.

About uCloudlink Group

uCloudlink Group Inc is a technology company specializing in global mobile data connectivity solutions. The company’s core offering is a cloud SIM virtualization platform that enables seamless roaming for consumers and enterprise users without the need for physical SIM cards. Leveraging proprietary CloudSIM technology, uCloudlink provides portable Wi-Fi hotspot devices, embedded IoT connectivity modules, and eSIM products designed to deliver high-speed data access in multiple countries.

Through its CloudSIM platform, uCloudlink dynamically switches between multiple mobile network operators to optimize coverage and data speeds while controlling costs.