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

uCloudlink Group Inc. (NASDAQ:UCL) saw a significant growth in short interest during the month of May. As of May 28th, there was short interest totalling 4,900 shares, a growth of 4,800.0% from the May 13th total of 100 shares. Based on an average trading volume of 21,900 shares, the short-interest ratio is presently 0.2 days.

An institutional investor recently bought a new position in uCloudlink Group stock. Citadel Advisors LLC purchased a new position in shares of uCloudlink Group Inc. (NASDAQ:UCL) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,512 shares of the company’s stock, valued at approximately $301,000. Citadel Advisors LLC owned about 0.10% of uCloudlink Group at the end of the most recent reporting period. Institutional investors own 0.14% of the company’s stock.

NASDAQ UCL traded up $0.04 during trading hours on Friday, reaching $10.99. 8,369 shares of the company’s stock were exchanged, compared to its average volume of 24,268. The business’s fifty day simple moving average is $11.10. uCloudlink Group has a one year low of $8.56 and a one year high of $18.32. The company has a market cap of $310.06 million and a PE ratio of -4.34.

uCloudlink Group (NASDAQ:UCL) last announced its earnings results on Wednesday, May 26th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.03. uCloudlink Group had a negative return on equity of 127.77% and a negative net margin of 70.80%. The company had revenue of $17.69 million for the quarter, compared to analysts’ expectations of $17.25 million. Sell-side analysts anticipate that uCloudlink Group will post -0.72 earnings per share for the current year.

uCloudlink Group Company Profile

uCloudlink Group Inc operates as a mobile data traffic sharing marketplace in the telecommunications industry. It 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 (MVNOs), mobile network operators (MNOs), and portable Wi-Fi terminal rental companies.

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