Short Interest in uCloudlink Group Inc. (NASDAQ:UCL) Expands By 35.7%

uCloudlink Group Inc. (NASDAQ:UCL - Get Free Report) saw a large 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.

Wall Street Analysts Forecast Growth

Separately, TheStreet cut uCloudlink Group from a "c-" rating to a "d+" rating in a research note on Tuesday, January 9th.

uCloudlink Group Stock Down 2.5 %

Shares of UCL traded down $0.04 on Friday, hitting $1.55. The company's stock had a trading volume of 3,802 shares, compared to its average volume of 105,426. The firm's fifty day moving average price is $1.58 and its 200-day moving average price is $1.81. uCloudlink Group has a fifty-two week low of $1.17 and a fifty-two week high of $4.78. The firm 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 - Get Free Report) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.10). uCloudlink Group had a net margin of 3.28% and a return on equity of 18.58%. The business had revenue of $21.73 million during the quarter, compared to analyst estimates of $23.58 million. As a group, equities analysts predict that uCloudlink Group will post 0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On uCloudlink Group

Institutional investors and hedge funds have recently modified their holdings of the business. Citadel Advisors LLC acquired a new position in uCloudlink Group during the 2nd quarter worth approximately $45,000. Renaissance Technologies LLC boosted its position in uCloudlink Group by 26.0% during the 2nd quarter. Renaissance Technologies LLC now owns 57,205 shares of the company's stock worth $145,000 after acquiring an additional 11,800 shares during the last quarter. Morgan Stanley boosted its position in uCloudlink Group by 146,651.6% during 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 acquired a new position in uCloudlink Group during the 4th quarter worth approximately $594,000. 85.54% of the stock is currently owned by institutional investors and hedge funds.

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.