Urgent.ly Inc. (NASDAQ:ULY) Sees Large Decrease in Short Interest

Urgent.ly Inc. (NASDAQ:ULY) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 64,100 shares, a drop of 97.7% from the February 28th total of 2,820,000 shares. Approximately 7.3% of the company’s shares are short sold. Based on an average daily trading volume, of 258,800 shares, the short-interest ratio is presently 0.2 days.

Institutional Investors Weigh In On Urgent.ly

A hedge fund recently bought a new stake in Urgent.ly stock. Toronto Dominion Bank acquired a new position in shares of Urgent.ly Inc. (NASDAQ:ULY) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 165,750 shares of the company’s stock, valued at approximately $85,000. Toronto Dominion Bank owned about 1.23% of Urgent.ly at the end of the most recent reporting period. 28.30% of the stock is currently owned by institutional investors.

Urgent.ly Stock Performance

Shares of NASDAQ:ULY traded up $0.93 during mid-day trading on Wednesday, hitting $4.84. 562,498 shares of the company traded hands, compared to its average volume of 82,381. Urgent.ly has a 52-week low of $2.99 and a 52-week high of $32.04. The firm’s 50 day simple moving average is $5.81 and its 200 day simple moving average is $6.87. The firm has a market cap of $6.02 million, a P/E ratio of 0.52 and a beta of 0.85.

Urgent.ly (NASDAQ:ULY) last released its quarterly earnings results on Wednesday, March 12th. The company reported ($7.80) earnings per share (EPS) for the quarter. The company had revenue of $32.03 million for the quarter.

Analysts Set New Price Targets

Separately, Needham & Company LLC cut their target price on shares of Urgent.ly from $18.00 to $12.00 and set a “buy” rating on the stock in a research note 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.