uCloudlink Group Inc. (NASDAQ:UCL) Short Interest Down 17.7% in August

uCloudlink Group Inc. (NASDAQ:UCLGet Rating) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 54,700 shares, a decline of 17.7% from the August 15th total of 66,500 shares. Based on an average trading volume of 90,200 shares, the short-interest ratio is presently 0.6 days.

Institutional Investors Weigh In On uCloudlink Group

A hedge fund recently raised its stake in uCloudlink Group stock. Renaissance Technologies LLC grew its holdings in shares of uCloudlink Group Inc. (NASDAQ:UCLGet Rating) by 118.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,800 shares of the company’s stock after acquiring an additional 17,800 shares during the quarter. Renaissance Technologies LLC owned 0.12% of uCloudlink Group worth $58,000 at the end of the most recent quarter. 0.25% of the stock is currently owned by institutional investors and hedge funds.

uCloudlink Group Stock Performance

UCL opened at $0.57 on Thursday. The company’s fifty day moving average price is $0.84 and its two-hundred day moving average price is $1.15. uCloudlink Group has a 1-year low of $0.52 and a 1-year high of $7.43.

uCloudlink Group (NASDAQ:UCLGet Rating) last issued its earnings results on Wednesday, August 24th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). uCloudlink Group had a negative return on equity of 111.05% and a negative net margin of 52.00%. During the same quarter in the prior year, the business posted ($0.26) EPS. Equities analysts forecast that uCloudlink Group will post -0.58 earnings per share for the current year.

About uCloudlink Group

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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, mobile network operators (MNOs), and portable Wi-Fi terminal rental companies.

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