uCloudlink Group (NASDAQ:UCL) Downgraded by Zacks Research to “Strong Sell”

Zacks Research cut shares of uCloudlink Group (NASDAQ:UCL) from a hold rating to a strong sell rating in a report released on Thursday,Zacks reports.

Separately, Weiss Ratings lowered uCloudlink Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 24th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

uCloudlink Group Stock Performance

Shares of uCloudlink Group stock opened at $0.41 on Thursday. uCloudlink Group has a 12 month low of $0.34 and a 12 month high of $3.20. The firm has a market capitalization of $15.76 million, a P/E ratio of -41.36 and a beta of 4.14. The company has a current ratio of 1.58, a quick ratio of 1.46 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $0.74 and a two-hundred day simple moving average of $1.10.

uCloudlink Group (NASDAQ:UCL) last issued its quarterly earnings results on Tuesday, August 18th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). uCloudlink Group had a negative net margin of 0.31% and a negative return on equity of 0.88%. The business had revenue of $18.23 million for the quarter, compared to analysts’ expectations of $20.00 million. On average, equities analysts forecast that uCloudlink Group will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On uCloudlink Group

A hedge fund recently bought a new stake in uCloudlink Group stock. Citadel Advisors LLC bought a new position in uCloudlink Group Inc. Sponsored ADR (NASDAQ:UCL) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 68,311 shares of the company’s stock, valued at approximately $148,000. Citadel Advisors LLC owned about 0.18% of uCloudlink Group as of its most recent filing with the SEC. Institutional investors and hedge funds own 85.54% of the company’s stock.

uCloudlink Group Company Profile

uCloudlink Group Inc is a technology company specializing in global mobile data connectivity solutions. The company’s core offering is a cloud SIM virtualization platform that enables seamless roaming for consumers and enterprise users without the need for physical SIM cards. Leveraging proprietary CloudSIM technology, uCloudlink provides portable Wi-Fi hotspot devices, embedded IoT connectivity modules, and eSIM products designed to deliver high-speed data access in multiple countries.

Through its CloudSIM platform, uCloudlink dynamically switches between multiple mobile network operators to optimize coverage and data speeds while controlling costs.