uCloudlink Group (NASDAQ:UCL – Get Rating) announced its quarterly earnings results on Tuesday. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10, Fidelity Earnings reports. uCloudlink Group had a negative return on equity of 94.89% and a negative net margin of 62.37%. During the same quarter in the prior year, the firm posted ($0.45) EPS. uCloudlink Group updated its Q2 2022 guidance to EPS.
UCL opened at $1.16 on Wednesday. The stock has a market capitalization of $32.93 million, a PE ratio of -0.72 and a beta of 3.41. The stock’s 50 day moving average price is $1.33 and its 200-day moving average price is $1.95. uCloudlink Group has a 52-week low of $0.66 and a 52-week high of $11.97.
Large investors have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its holdings in uCloudlink Group by 118.7% in the first quarter. Renaissance Technologies LLC now owns 32,800 shares of the company’s stock worth $58,000 after buying an additional 17,800 shares during the period. Virtu Financial LLC bought a new position in shares of uCloudlink Group in the 4th quarter worth approximately $188,000. Citadel Advisors LLC lifted its stake in shares of uCloudlink Group by 81.2% in the 3rd quarter. Citadel Advisors LLC now owns 20,890 shares of the company’s stock valued at $91,000 after purchasing an additional 9,363 shares during the period. Geode Capital Management LLC bought a new stake in shares of uCloudlink Group during the fourth quarter valued at approximately $81,000. Finally, Bank of America Corp DE purchased a new stake in uCloudlink Group in the fourth quarter worth $58,000. 0.24% of the stock is owned by hedge funds and other institutional investors.
uCloudlink Group Inc operates as a mobile data traffic sharing marketplace in the telecommunications industry. It 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.
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