uCloudlink Group Inc. (NASDAQ:UCL) Short Interest Up 460.0% in March

uCloudlink Group Inc. (NASDAQ:UCL) saw a significant increase in short interest in the month of 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 daily volume of 16,300 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On uCloudlink Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC bought a new position in uCloudlink Group in the 2nd quarter valued at about $45,000. Renaissance Technologies LLC grew its position in shares of uCloudlink Group by 118.7% during the 1st quarter. Renaissance Technologies LLC now owns 32,800 shares of the company’s stock worth $58,000 after purchasing an additional 17,800 shares in the last quarter. Morgan Stanley raised 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 valued at $304,000 after buying an additional 90,924 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in uCloudlink Group during the fourth quarter worth approximately $594,000. 85.54% of the stock is currently owned by institutional investors and hedge funds.

uCloudlink Group Stock Up 6.0 %

uCloudlink Group stock opened at $1.60 on Thursday. The company has a fifty day simple moving average of $1.54 and a 200 day simple moving average of $1.86. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 0.08. uCloudlink Group has a 1-year low of $1.17 and a 1-year high of $4.78. The company has a market cap of $59.01 million, a P/E ratio of 20.00 and a beta of 4.51.

uCloudlink Group (NASDAQ:UCL) last released its quarterly earnings data 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 net margin of 3.28% and a return on equity of 18.58%. The company had revenue of $21.73 million during the quarter, compared to analyst estimates of $23.58 million.

Analyst Upgrades and Downgrades

Separately, TheStreet lowered 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.