Urgent.ly (NASDAQ:ULY) Trading Up 3.4% – Should You Buy?

Urgent.ly Inc. (NASDAQ:ULY) shot up 3.4% on Thursday . The stock traded as high as $2.48 and last traded at $2.43. 26,639 shares traded hands during trading, a decline of 98% from the average session volume of 1,498,143 shares. The stock had previously closed at $2.35.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ULY. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price target on shares of Urgent.ly in a report on Thursday, November 13th. Chardan Capital restated a “buy” rating and set a $15.00 price objective on shares of Urgent.ly in a research report on Thursday, November 13th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Urgent.ly in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.50.

Urgent.ly Stock Up 3.4%

The firm has a 50-day simple moving average of $2.32 and a 200 day simple moving average of $3.61. The company has a market cap of $5.32 million, a price-to-earnings ratio of -0.12 and a beta of -1.71.

Urgent.ly (NASDAQ:ULY) last announced its earnings results on Wednesday, November 12th. The company reported ($3.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.40) by ($1.23). The firm had revenue of $32.94 million for the quarter, compared to analyst estimates of $32.30 million.

Institutional Investors Weigh In On Urgent.ly

An institutional investor recently bought a new position in Urgent.ly stock. Highbridge Capital Management LLC purchased a new position in shares of Urgent.ly Inc. (NASDAQ:ULY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 68,748 shares of the company’s stock, valued at approximately $222,000. Highbridge Capital Management LLC owned about 4.91% of Urgent.ly as of its most recent SEC filing. 28.30% of the stock is currently owned by institutional investors and hedge funds.

Urgent.ly Company Profile

Urgent.ly, Inc (NASDAQ: ULY) operates a digital roadside assistance platform that connects drivers in need of help with a network of service providers. Through its mobile applications and enterprise APIs, the company offers on-demand towing, battery jump-starts, tire changes, fuel delivery and lockout services. By leveraging real-time location data and predictive analytics, Urgent.ly aims to streamline response times and improve the overall customer experience compared to traditional roadside assistance models.

The company’s platform serves both individual consumers and large-scale commercial clients, including automotive original equipment manufacturers (OEMs), fleet operators, rental agencies and insurance providers.