uCloudlink Group Inc. Sponsored ADR (NASDAQ:UCL) Stock Short Interest Falls 48.9%

uCloudlink Group Inc. Sponsored ADR (NASDAQ:UCL) was the target of a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 75,955 shares, a decline of 48.9% from the September 30th total of 148,623 shares. Based on an average daily volume of 331,421 shares, the short-interest ratio is currently 0.2 days. Approximately 0.4% of the shares of the company are sold short.

uCloudlink Group Price Performance

Shares of UCL stock traded down $0.00 during trading hours on Monday, hitting $0.20. 53,171 shares of the company’s stock were exchanged, compared to its average volume of 603,525. The company has a market capitalization of $7.61 million, a PE ratio of -19.98 and a beta of 4.42. uCloudlink Group has a 12-month low of $0.19 and a 12-month high of $2.63. The business’s 50 day simple moving average is $0.32 and its 200-day simple moving average is $1.00. The company has a current ratio of 1.58, a quick ratio of 1.46 and a debt-to-equity ratio of 0.07.

uCloudlink Group (NASDAQ:UCL) last announced its quarterly earnings data on Tuesday, August 18th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The business had revenue of $18.23 million during the quarter, compared to analysts’ expectations of $20.00 million. uCloudlink Group had a negative net margin of 0.31% and a negative return on equity of 0.88%. On average, equities research analysts anticipate that uCloudlink Group will post -0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on UCL. Weiss Ratings cut uCloudlink Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 24th. Zacks Research upgraded shares of uCloudlink Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 27th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

About uCloudlink Group

uCloudlink Group Inc is a technology company that provides mobile connectivity services through its cloudSIM architecture. The company operates primarily under the GlocalMe brand, using cloud-based SIM technology to enable users to access mobile data networks without relying on a traditional physical SIM card or a single wireless carrier.

Its products and services include portable Wi-Fi hotspots, mobile broadband solutions, and connectivity offerings for travelers, businesses, and Internet of Things applications.