uCloudlink Group Inc. (NASDAQ:UCL) Short Interest Down 36.2% in May

uCloudlink Group Inc. (NASDAQ:UCL - Get Free Report) was the target of a large decline in short interest in May. As of May 15th, there was short interest totalling 114,200 shares, a decline of 36.2% from the April 30th total of 179,000 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average trading volume of 54,000 shares, the short-interest ratio is currently 2.1 days.

Hedge Funds Weigh In On uCloudlink Group

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

uCloudlink Group Price Performance

Shares of uCloudlink Group stock traded up $0.06 during trading on Wednesday, hitting $1.64. 19,169 shares of the company's stock traded hands, compared to its average volume of 88,928. uCloudlink Group has a twelve month low of $0.80 and a twelve month high of $3.30. The company has a market cap of $61.99 million, a PE ratio of 14.91 and a beta of 4.13. The firm's fifty day moving average price is $1.21 and its 200 day moving average price is $1.35.

uCloudlink Group (NASDAQ:UCL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. uCloudlink Group had a net margin of 4.84% and a return on equity of 22.48%. The firm had revenue of $18.75 million during the quarter, compared to the consensus estimate of $18.20 million. As a group, equities research analysts anticipate that uCloudlink Group will post 0.1 earnings per share for the current year.

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.