Short Interest in Urgent.ly Inc. (NASDAQ:ULY) Declines By 52.1%

Urgent.ly Inc. (NASDAQ:ULY) was the recipient of a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 29,000 shares, a drop of 52.1% from the May 15th total of 60,500 shares. Approximately 3.2% of the shares of the company are short sold. Based on an average daily volume of 161,700 shares, the days-to-cover ratio is presently 0.2 days.

Urgent.ly Stock Performance

Shares of ULY opened at $4.30 on Friday. The business has a 50-day moving average of $6.61 and a 200 day moving average of $6.11. Urgent.ly has a fifty-two week low of $2.99 and a fifty-two week high of $23.16. The firm has a market cap of $5.35 million, a P/E ratio of 0.46 and a beta of -1.66.

Urgent.ly (NASDAQ:ULY) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($4.69) earnings per share for the quarter. The company had revenue of $31.27 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Urgent.ly stock. Toronto Dominion Bank bought a new stake in shares of Urgent.ly Inc. (NASDAQ:ULY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 165,750 shares of the company’s stock, valued at approximately $85,000. Toronto Dominion Bank owned approximately 1.23% of Urgent.ly as of its most recent SEC filing. 28.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ULY has been the subject of several research analyst reports. Wall Street Zen raised Urgent.ly from a “sell” rating to a “hold” rating in a research report on Saturday. Needham & Company LLC decreased their price objective on Urgent.ly from $18.00 to $12.00 and set a “buy” rating for the company in a report on Friday, March 14th.

Urgent.ly Company Profile

Urgent.ly Inc offers mobility assistance software platform for roadside assistance in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its services include car lockout, tire changes, towing, stuck in ditch and winch services, motorcycle towing, electric vehicle towing, jump start, and gas delivery.