uCloudlink Group Inc. Sponsored ADR (NASDAQ:UCL) Sees Significant Increase in Short Interest

uCloudlink Group Inc. Sponsored ADR (NASDAQ:UCL) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totaling 203,305 shares, a growth of 9,994.6% from the August 15th total of 2,014 shares. Based on an average trading volume of 8,994,321 shares, the days-to-cover ratio is presently 0.0 days. Approximately 1.2% of the shares of the stock are short sold.

uCloudlink Group Price Performance

uCloudlink Group stock opened at $0.43 on Friday. 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 $16.24 million, a P/E ratio of -42.63 and a beta of 4.14. The business’s fifty day moving average is $0.68 and its two-hundred day moving average is $1.05. uCloudlink Group has a 52 week low of $0.34 and a 52 week high of $2.79.

uCloudlink Group (NASDAQ:UCL) last announced its earnings results on Tuesday, August 18th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). uCloudlink Group had a negative return on equity of 0.88% and a negative net margin of 0.31%.The business had revenue of $18.23 million for the quarter, compared to the consensus estimate of $20.00 million. Equities research analysts forecast that uCloudlink Group will post -0.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on UCL. Weiss Ratings downgraded shares of uCloudlink Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 24th. Zacks Research downgraded shares of uCloudlink Group from a “hold” rating to a “strong sell” rating in a report on Thursday, September 3rd. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Hedge Funds Weigh In On uCloudlink Group

A hedge fund recently bought a new stake in uCloudlink Group stock. Susquehanna International Group LLP purchased a new stake in shares of uCloudlink Group Inc. Sponsored ADR (NASDAQ:UCL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 reporting period. 85.54% of the stock is currently owned by institutional investors.

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.