uCloudlink Group Inc. (NASDAQ:UCL) Expected to Announce Quarterly Sales of $17.53 Million

Wall Street brokerages expect uCloudlink Group Inc. (NASDAQ:UCL) to announce $17.53 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for uCloudlink Group’s earnings, with the highest sales estimate coming in at $17.56 million and the lowest estimate coming in at $17.50 million. uCloudlink Group posted sales of $17.03 million in the same quarter last year, which suggests a positive year over year growth rate of 2.9%. The firm is scheduled to report its next earnings report on Thursday, March 24th.

According to Zacks, analysts expect that uCloudlink Group will report full-year sales of $73.79 million for the current fiscal year, with estimates ranging from $73.76 million to $73.82 million. For the next financial year, analysts forecast that the firm will report sales of $99.45 million, with estimates ranging from $88.82 million to $110.08 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover uCloudlink Group.

uCloudlink Group (NASDAQ:UCL) last posted its quarterly earnings results on Tuesday, November 30th. The company reported ($0.02) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.02). uCloudlink Group had a negative net margin of 58.58% and a negative return on equity of 92.15%. During the same period last year, the company earned ($0.34) earnings per share.

A hedge fund recently raised its stake in uCloudlink Group stock. Citadel Advisors LLC grew its position in uCloudlink Group Inc. (NASDAQ:UCL) by 81.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,890 shares of the company’s stock after acquiring an additional 9,363 shares during the quarter. Citadel Advisors LLC owned about 0.07% of uCloudlink Group worth $91,000 at the end of the most recent reporting period. 0.15% of the stock is owned by hedge funds and other institutional investors.

Shares of UCL traded up $0.08 during mid-day trading on Friday, reaching $2.19. The stock had a trading volume of 52,885 shares, compared to its average volume of 250,229. The firm has a market cap of $62.17 million, a price-to-earnings ratio of -1.44 and a beta of 2.58. uCloudlink Group has a 12 month low of $1.93 and a 12 month high of $14.20. The business has a fifty day moving average of $2.88 and a 200 day moving average of $5.16.

About uCloudlink Group

uCloudlink Group Inc operates as a mobile data traffic sharing marketplace in the telecommunications industry. It 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 (MVNOs), mobile network operators (MNOs), and portable Wi-Fi terminal rental companies.

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