uCloudlink Group Inc. Sponsored ADR (NASDAQ:UCL) Short Interest Down 77.4% in August

uCloudlink Group Inc. Sponsored ADR (NASDAQ:UCL) saw a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 2,014 shares, a decrease of 77.4% from the July 30th total of 8,915 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 38,772 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On uCloudlink Group

A hedge fund recently bought a new position in uCloudlink Group stock. Susquehanna International Group LLP acquired a new stake in uCloudlink Group Inc. Sponsored ADR (NASDAQ:UCL) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 22,099 shares of the company’s stock, valued at approximately $48,000. Susquehanna International Group LLP owned about 0.06% of uCloudlink Group at the end of the most recent quarter. Institutional investors own 85.54% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of uCloudlink Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, uCloudlink Group currently has a consensus rating of “Sell”.

uCloudlink Group Stock Down 0.9%

Shares of uCloudlink Group stock traded down $0.00 during trading hours on Thursday, reaching $0.39. 188,728 shares of the company were exchanged, compared to its average volume of 5,183,820. uCloudlink Group has a 1 year low of $0.34 and a 1 year high of $3.60. The stock’s fifty day moving average is $0.82 and its 200 day moving average is $1.16. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.46 and a current ratio of 1.58. The firm has a market cap of $14.80 million, a PE ratio of -38.85 and a beta of 4.20.

uCloudlink Group (NASDAQ:UCL) last released its earnings results on Tuesday, August 18th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). uCloudlink Group had a negative net margin of 0.31% and a negative return on equity of 0.88%. The company had revenue of $18.23 million during the quarter, compared to analysts’ expectations of $20.00 million. As a group, equities research analysts forecast that uCloudlink Group will post -0.01 earnings per share for the current year.

About uCloudlink Group

uCloudlink Group Inc is a technology company specializing in global mobile data connectivity solutions. The company’s core offering is a cloud SIM virtualization platform that enables seamless roaming for consumers and enterprise users without the need for physical SIM cards. Leveraging proprietary CloudSIM technology, uCloudlink provides portable Wi-Fi hotspot devices, embedded IoT connectivity modules, and eSIM products designed to deliver high-speed data access in multiple countries.

Through its CloudSIM platform, uCloudlink dynamically switches between multiple mobile network operators to optimize coverage and data speeds while controlling costs.