Urgent.ly (NASDAQ:ULY) Trading Up 3.4% – Here’s What Happened

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

Analysts Set New Price Targets

ULY has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Urgent.ly in a research note on Wednesday, October 8th. Chardan Capital restated a “buy” rating and set a $15.00 price target on shares of Urgent.ly in a research note on Thursday, November 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price objective on shares of Urgent.ly in a research report on Thursday, November 13th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Urgent.ly presently has an average rating of “Hold” and a consensus price target of $11.50.

Urgent.ly Stock Up 3.4%

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

Urgent.ly (NASDAQ:ULY) last announced its quarterly 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 Inflows and Outflows

A hedge fund recently bought a new stake in Urgent.ly stock. Highbridge Capital Management LLC purchased a new position in shares of Urgent.ly Inc. (NASDAQ:ULY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 68,748 shares of the company’s stock, valued at approximately $222,000. Highbridge Capital Management LLC owned approximately 4.91% of Urgent.ly at the end of the most recent reporting period. 28.30% of the stock is owned by institutional investors and hedge funds.

About Urgent.ly

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.