Short Interest in uCloudlink Group Inc. Sponsored ADR (NASDAQ:UCL) Expands By 83.5%

Key Points

• uCloudlink Group Inc. experienced a significant increase in short interest of 83.5% in July, with total shares short rising from 8,500 to 15,600.
• The company's stock is currently trading at $2.78 with a market capitalization of $105.08 million and a PE ratio of 30.89, indicating strong investor interest.
• Recent institutional activity includes new stakes bought by XTX Topco Ltd and Two Sigma Securities LLC, while Renaissance Technologies LLC increased its stake by 77.3%.

uCloudlink Group Inc. Sponsored ADR (NASDAQ:UCL - Get Free Report) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 15,600 shares, anincreaseof83.5% from the June 30th total of 8,500 shares. Based on an average daily volume of 81,600 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 81,600 shares, the short-interest ratio is currently 0.2 days.

Institutional Investors Weigh In On uCloudlink Group

A number of hedge funds have recently modified their holdings of the business. Two Sigma Securities LLC purchased a new stake in uCloudlink Group in the 4th quarter worth $38,000. XTX Topco Ltd purchased a new stake in uCloudlink Group in the 4th quarter worth $26,000. Finally, Renaissance Technologies LLC increased its stake in uCloudlink Group by 77.3% in the 4th quarter. Renaissance Technologies LLC now owns 54,805 shares of the company's stock worth $115,000 after buying an additional 23,900 shares in the last quarter. Institutional investors own 85.54% of the company's stock.

uCloudlink Group Trading Up 16.9%

NASDAQ:UCL traded up $0.52 during trading hours on Friday, reaching $3.59. The company had a trading volume of 830,353 shares, compared to its average volume of 160,882. uCloudlink Group has a 52 week low of $0.80 and a 52 week high of $3.98. The firm's 50 day moving average price is $2.13 and its 200-day moving average price is $1.55. The firm has a market cap of $135.70 million, a price-to-earnings ratio of 39.89 and a beta of 4.26.

uCloudlink Group (NASDAQ:UCL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.02. uCloudlink Group had a net margin of 3.81% and a return on equity of 16.53%. The firm had revenue of $18.75 million during the quarter, compared to the consensus estimate of $18.20 million. On average, analysts forecast that uCloudlink Group will post 0.1 earnings per share for the current fiscal year.

uCloudlink Group Company Profile

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.