Universal Electronics Inc. (NASDAQ:UEIC) Short Interest Up 82.5% in May

Universal Electronics Inc. (NASDAQ:UEIC) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 183,800 shares, a growth of 82.5% from the April 30th total of 100,700 shares. Based on an average daily volume of 88,300 shares, the days-to-cover ratio is currently 2.1 days. Approximately 1.7% of the shares of the company are sold short.

Universal Electronics Stock Down 4.2%

Shares of Universal Electronics stock opened at $6.76 on Monday. The company has a market capitalization of $89.03 million, a price-to-earnings ratio of -3.65, a PEG ratio of 3.62 and a beta of 1.44. Universal Electronics has a 12-month low of $4.32 and a 12-month high of $12.64. The firm’s 50-day moving average price is $5.78 and its two-hundred day moving average price is $8.43.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wall Street Zen downgraded Universal Electronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 1st. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 price objective on shares of Universal Electronics in a research note on Friday, February 21st.

Insider Activity at Universal Electronics

In related news, Director Eric Singer bought 6,000 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was purchased at an average cost of $7.08 per share, for a total transaction of $42,480.00. Following the transaction, the director now owns 36,403 shares in the company, valued at $257,733.24. The trade was a 19.73% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought 37,000 shares of company stock worth $251,470 in the last ninety days. 10.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On Universal Electronics

A number of institutional investors have recently modified their holdings of UEIC. JPMorgan Chase & Co. raised its holdings in shares of Universal Electronics by 34.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,823 shares of the technology company’s stock worth $165,000 after buying an additional 4,591 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Universal Electronics by 4.7% during the 4th quarter. Empowered Funds LLC now owns 45,014 shares of the technology company’s stock worth $495,000 after buying an additional 2,034 shares in the last quarter. Peapod Lane Capital LLC acquired a new position in shares of Universal Electronics during the 4th quarter worth $1,215,000. SBI Securities Co. Ltd. acquired a new position in shares of Universal Electronics during the 4th quarter worth $33,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Universal Electronics by 8.0% during the 4th quarter. Victory Capital Management Inc. now owns 58,000 shares of the technology company’s stock worth $638,000 after buying an additional 4,297 shares in the last quarter. Institutional investors and hedge funds own 79.35% of the company’s stock.

Universal Electronics Company Profile

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People’s Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.