uCloudlink Group Inc. (NASDAQ:UCL) Short Interest Down 54.2% in March

uCloudlink Group Inc. (NASDAQ:UCL) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 18,900 shares, a drop of 54.2% from the March 15th total of 41,300 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 98,000 shares, the short-interest ratio is presently 0.2 days.

uCloudlink Group Stock Performance

Shares of NASDAQ UCL traded down $0.01 during midday trading on Friday, hitting $0.97. 6,916 shares of the company’s stock traded hands, compared to its average volume of 82,302. The stock has a market capitalization of $36.33 million, a price-to-earnings ratio of 8.82 and a beta of 4.01. The firm has a fifty day moving average of $1.20 and a 200 day moving average of $1.33. uCloudlink Group has a 1 year low of $0.95 and a 1 year high of $3.30.

uCloudlink Group (NASDAQ:UCL) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. uCloudlink Group had a return on equity of 22.48% and a net margin of 4.84%. The company had revenue of $25.96 million during the quarter, compared to the consensus estimate of $25.15 million. On average, equities analysts anticipate that uCloudlink Group will post 0.1 earnings per share for the current year.

Institutional Investors Weigh In On uCloudlink Group

A number of institutional investors have recently added to or reduced their stakes in UCL. XTX Topco Ltd bought a new position in shares of uCloudlink Group during the fourth quarter worth $26,000. Two Sigma Securities LLC bought a new position in shares of uCloudlink Group during the 4th quarter valued at about $38,000. Finally, Renaissance Technologies LLC grew its position in shares of uCloudlink Group by 77.3% during the fourth quarter. Renaissance Technologies LLC now owns 54,805 shares of the company’s stock valued at $115,000 after purchasing an additional 23,900 shares in the last quarter. 85.54% of the stock is owned by hedge funds and other institutional investors.

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.