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

uCloudlink Group Inc. (NASDAQ:UCL) was the recipient of a large growth in short interest in the month of May. As of May 28th, there was short interest totalling 4,900 shares, a growth of 4,800.0% from the May 13th total of 100 shares. Based on an average daily volume of 21,900 shares, the short-interest ratio is presently 0.2 days.

Shares of UCL traded up $0.04 during mid-day trading on Friday, hitting $10.99. 8,369 shares of the company’s stock were exchanged, compared to its average volume of 24,268. uCloudlink Group has a 52 week low of $8.56 and a 52 week high of $18.32. The stock has a 50-day moving average of $11.10. The stock has a market capitalization of $310.06 million and a price-to-earnings ratio of -4.34.

uCloudlink Group (NASDAQ:UCL) last issued its quarterly earnings results on Wednesday, May 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.03. The business had revenue of $17.69 million for the quarter, compared to the consensus estimate of $17.25 million. uCloudlink Group had a negative return on equity of 127.77% and a negative net margin of 70.80%. As a group, sell-side analysts forecast that uCloudlink Group will post -0.72 earnings per share for the current year.

An institutional investor recently bought a new position in uCloudlink Group stock. HRT Financial LP acquired a new position in shares of uCloudlink Group Inc. (NASDAQ:UCL) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,425 shares of the company’s stock, valued at approximately $120,000. 0.14% 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. It 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 (MVNOs), mobile network operators (MNOs), and portable Wi-Fi terminal rental companies.

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