uCloudlink Group Inc. Sponsored ADR (NASDAQ:UCL) Sees Large Drop in Short Interest

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

uCloudlink Group Price Performance

NASDAQ:UCL traded down $0.00 during trading hours on Thursday, hitting $0.39. 188,728 shares of the stock were exchanged, compared to its average volume of 5,183,820. The firm’s fifty day moving average price is $0.82 and its 200 day moving average price is $1.16. uCloudlink Group has a 52-week low of $0.34 and a 52-week high of $3.60. The company has a market cap of $14.80 million, a P/E ratio of -38.85 and a beta of 4.20. The company has a current ratio of 1.58, a quick ratio of 1.46 and a debt-to-equity ratio of 0.07.

uCloudlink Group (NASDAQ:UCL) last released its earnings results on Tuesday, August 18th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $18.23 million during the quarter, compared to analysts’ expectations of $20.00 million. As a group, equities research analysts anticipate that uCloudlink Group will post -0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On uCloudlink Group

An institutional investor recently bought a new position in uCloudlink Group stock. Susquehanna International Group LLP bought a new stake in uCloudlink Group Inc. Sponsored ADR (NASDAQ:UCL) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 22,099 shares of the company’s stock, valued at approximately $48,000. Susquehanna International Group LLP owned about 0.06% of uCloudlink Group as of its most recent SEC filing. 85.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

uCloudlink Group Company Profile

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.