uCloudlink Group (NASDAQ:UCL) Trading Down 3.8% – Here’s Why

uCloudlink Group Inc. (NASDAQ:UCL) shares traded down 3.8% on Thursday . The company traded as low as $1.23 and last traded at $1.26. 79,838 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 159,616 shares. The stock had previously closed at $1.31.

uCloudlink Group Price Performance

The stock has a market cap of $47.19 million, a price-to-earnings ratio of 11.45 and a beta of 4.14. The business’s 50 day moving average is $1.56 and its 200 day moving average is $1.37.

uCloudlink Group (NASDAQ:UCL) last released its quarterly earnings data on Tuesday, November 26th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. uCloudlink Group had a return on equity of 22.48% and a net margin of 4.84%. During the same quarter in the previous year, the company posted $0.01 earnings per share. As a group, analysts forecast that uCloudlink Group Inc. will post 0.1 earnings per share for the current year.

Institutional Trading of uCloudlink Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UCL. Renaissance Technologies LLC increased its position in shares of uCloudlink Group by 77.3% during the fourth quarter. Renaissance Technologies LLC now owns 54,805 shares of the company’s stock worth $115,000 after purchasing an additional 23,900 shares in the last quarter. Two Sigma Securities LLC purchased a new position in uCloudlink Group during the 4th quarter worth approximately $38,000. Finally, XTX Topco Ltd purchased a new position in uCloudlink Group during the 4th quarter worth approximately $26,000. Institutional investors and hedge funds own 85.54% of the company’s stock.

About uCloudlink Group

uCloudlink Group Inc operates as a mobile data traffic sharing marketplace in the telecommunications industry. The company provides uCloudlink 1.0, a model that focuses on cross-border travelers that need mobile data connectivity services in various countries; and operates portable Wi-Fi services under the Roamingman name in China and Malaysia, which provides global mobile data connectivity services, as well as offers GlocalMe portable Wi-Fi terminals and cloud SIM architecture for mobile virtual network operators, mobile network operators (MNOs), and portable Wi-Fi terminal rental companies.