uCloudlink Group (NASDAQ:UCL) Stock Price Down 3.8% – Time to Sell?

Shares of uCloudlink Group Inc. (NASDAQ:UCL) fell 3.8% during mid-day trading on Thursday . The company traded as low as $1.23 and last traded at $1.26. 79,838 shares were traded 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 Trading Down 0.8 %

The stock has a market capitalization of $46.81 million, a PE ratio of 11.36 and a beta of 4.14. The stock has a 50 day moving average price of $1.56 and a 200-day moving average price of $1.37.

uCloudlink Group (NASDAQ:UCL) last released its quarterly earnings results on Tuesday, November 26th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company posted $0.01 EPS. Research analysts forecast that uCloudlink Group Inc. will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On uCloudlink Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in uCloudlink Group during the fourth quarter valued at $26,000. Two Sigma Securities LLC purchased a new position in uCloudlink Group during the fourth quarter valued at $38,000. Finally, Renaissance Technologies LLC lifted its position in uCloudlink Group by 77.3% during the fourth quarter. Renaissance Technologies LLC now owns 54,805 shares of the company’s stock valued at $115,000 after purchasing an additional 23,900 shares in the last quarter. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

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.