uCloudlink Group (NASDAQ:UCL) Trading 9.7% Higher

uCloudlink Group Inc. (NASDAQ:UCLGet Rating) shares traded up 9.7% during trading on Friday . The stock traded as high as $4.99 and last traded at $4.77. 132,839 shares changed hands during mid-day trading, an increase of 145% from the average session volume of 54,127 shares. The stock had previously closed at $4.35.

uCloudlink Group Trading Up 9.7 %

The stock has a market capitalization of $136.92 million, a price-to-earnings ratio of -4.04 and a beta of 4.29. The firm has a 50-day moving average of $3.46 and a 200 day moving average of $1.72.

Institutional Trading of uCloudlink Group

A hedge fund recently raised its stake in uCloudlink Group stock. Renaissance Technologies LLC raised its position in shares of uCloudlink Group Inc. (NASDAQ:UCLGet Rating) by 118.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,800 shares of the company’s stock after purchasing an additional 17,800 shares during the quarter. Renaissance Technologies LLC owned about 0.12% of uCloudlink Group worth $58,000 as of its most recent SEC filing.

About uCloudlink Group

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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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