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

uCloudlink Group Inc. (NASDAQ:UCL) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 5,600 shares, an increase of 460.0% from the February 29th total of 1,000 shares. Based on an average trading volume of 16,300 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On uCloudlink Group

Several hedge funds and other institutional investors have recently modified their holdings of UCL. Marshall Wace LLP acquired a new stake in uCloudlink Group in the fourth quarter worth about $594,000. Morgan Stanley increased its position in shares of uCloudlink Group by 146,651.6% in the fourth quarter. Morgan Stanley now owns 90,986 shares of the company’s stock worth $304,000 after acquiring an additional 90,924 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of uCloudlink Group by 120.8% in the third quarter. Renaissance Technologies LLC now owns 88,324 shares of the company’s stock valued at $50,000 after purchasing an additional 48,319 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new stake in shares of uCloudlink Group in the second quarter worth approximately $45,000. Institutional investors own 85.54% of the company’s stock.

uCloudlink Group Stock Up 6.0 %

UCL opened at $1.60 on Thursday. The company has a market cap of $59.01 million, a price-to-earnings ratio of 20.00 and a beta of 4.51. uCloudlink Group has a one year low of $1.17 and a one year high of $4.78. The business’s fifty day moving average is $1.54 and its two-hundred day moving average is $1.86. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.20 and a current ratio of 1.25.

uCloudlink Group (NASDAQ:UCL) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.05) EPS 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 company had revenue of $21.73 million for the quarter, compared to analyst estimates of $23.58 million.

Analyst Ratings Changes

Separately, TheStreet downgraded uCloudlink Group from a “c-” rating to a “d+” rating in a 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.