uCloudlink Group Inc. (NASDAQ:UCL) Short Interest Update

uCloudlink Group Inc. (NASDAQ:UCL) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 7,600 shares, a growth of 35.7% from the March 15th total of 5,600 shares. Based on an average trading volume of 25,600 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On uCloudlink Group

Large investors have recently made changes to their positions in the stock. Citadel Advisors LLC acquired a new stake in shares of uCloudlink Group in the second quarter valued at $45,000. Renaissance Technologies LLC boosted its holdings in uCloudlink Group by 120.8% during the 3rd quarter. Renaissance Technologies LLC now owns 88,324 shares of the company’s stock valued at $50,000 after acquiring an additional 48,319 shares during the period. Morgan Stanley grew its position in uCloudlink Group by 146,651.6% in the 4th quarter. Morgan Stanley now owns 90,986 shares of the company’s stock valued at $304,000 after acquiring an additional 90,924 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in uCloudlink Group during the fourth quarter worth about $594,000. 85.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, TheStreet lowered uCloudlink Group from a “c-” rating to a “d+” rating in a research report on Tuesday, January 9th.

uCloudlink Group Stock Down 2.5 %

Shares of UCL opened at $1.55 on Monday. uCloudlink Group has a 52-week low of $1.17 and a 52-week high of $4.78. The stock has a fifty day simple moving average of $1.58 and a two-hundred day simple moving average of $1.80. The company has a market capitalization of $58.08 million, a PE ratio of 19.39 and a beta of 4.50.

uCloudlink Group (NASDAQ:UCL) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.10). The business had revenue of $21.73 million during the quarter, compared to analysts’ expectations of $23.58 million. uCloudlink Group had a return on equity of 18.58% and a net margin of 3.28%. As a group, equities analysts anticipate that uCloudlink Group will post 0.11 earnings per share for the current fiscal year.

uCloudlink Group Company Profile

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.