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

uCloudlink Group Inc. (NASDAQ:UCL) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 7,600 shares, an increase 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 bought and sold shares of the stock. Citadel Advisors LLC bought a new position in shares of uCloudlink Group in the second quarter worth approximately $45,000. Renaissance Technologies LLC boosted its position 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 buying an additional 48,319 shares during the period. Morgan Stanley grew its holdings in uCloudlink Group by 146,651.6% in the 4th quarter. Morgan Stanley now owns 90,986 shares of the company’s stock worth $304,000 after acquiring an additional 90,924 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of uCloudlink Group in the fourth quarter valued at about $594,000. 85.54% of the stock is owned by hedge funds and other institutional investors.

uCloudlink Group Stock Performance

Shares of uCloudlink Group stock 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 company has a fifty day moving average of $1.58 and a 200-day moving average of $1.80. The stock has a market capitalization of $58.08 million, a price-to-earnings ratio of 19.39 and a beta of 4.50.

uCloudlink Group (NASDAQ:UCL) last posted its quarterly earnings results 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). uCloudlink Group had a return on equity of 18.58% and a net margin of 3.28%. The business had revenue of $21.73 million during the quarter, compared to the consensus estimate of $23.58 million. On average, equities research analysts forecast that uCloudlink Group will post 0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

About uCloudlink Group

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.