Universal Electronics Inc. (NASDAQ:UEIC) Sees Large Increase in Short Interest

Universal Electronics Inc. (NASDAQ:UEIC) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 98,300 shares, a growth of 20.2% from the February 13th total of 81,800 shares. Based on an average trading volume of 67,400 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.9% of the shares of the stock are short sold.

Universal Electronics Stock Performance

NASDAQ:UEIC opened at $6.89 on Wednesday. The stock’s fifty day moving average price is $9.11 and its two-hundred day moving average price is $9.55. Universal Electronics has a 52-week low of $6.73 and a 52-week high of $14.20. The company has a market cap of $90.34 million, a price-to-earnings ratio of -3.72, a P/E/G ratio of 3.62 and a beta of 1.21.

Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). Universal Electronics had a negative return on equity of 3.67% and a negative net margin of 6.09%. The firm had revenue of $110.45 million for the quarter, compared to analyst estimates of $102.47 million. On average, equities analysts predict that Universal Electronics will post 0.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on UEIC. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 target price on shares of Universal Electronics in a report on Friday, February 21st. StockNews.com downgraded Universal Electronics from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 1st.

Institutional Trading of Universal Electronics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC raised its position in shares of Universal Electronics by 4.7% during the 4th quarter. Empowered Funds LLC now owns 45,014 shares of the technology company’s stock valued at $495,000 after acquiring an additional 2,034 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Universal Electronics by 4.3% during the 3rd quarter. Victory Capital Management Inc. now owns 53,703 shares of the technology company’s stock valued at $496,000 after acquiring an additional 2,203 shares during the last quarter. Kennedy Capital Management LLC raised its position in shares of Universal Electronics by 8.7% during the 4th quarter. Kennedy Capital Management LLC now owns 32,593 shares of the technology company’s stock valued at $359,000 after acquiring an additional 2,606 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Universal Electronics during the 4th quarter valued at $33,000. Finally, First Eagle Investment Management LLC increased its position in shares of Universal Electronics by 2.2% in the 4th quarter. First Eagle Investment Management LLC now owns 163,936 shares of the technology company’s stock valued at $1,803,000 after buying an additional 3,500 shares in the last quarter. Institutional investors own 79.35% of the company’s stock.

Universal Electronics Company Profile

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People’s Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.