Urgent.ly (NASDAQ:ULY) Trading Up 3.4% – Here’s Why

Urgent.ly Inc. (NASDAQ:ULY) shares traded up 3.4% during mid-day trading on Thursday . The stock traded as high as $2.48 and last traded at $2.43. 26,639 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 1,498,143 shares. The stock had previously closed at $2.35.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of Urgent.ly in a report on Thursday, November 13th. Chardan Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of Urgent.ly in a research report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Urgent.ly in a research note on Wednesday. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Urgent.ly has a consensus rating of “Hold” and an average target price of $11.50.

Urgent.ly Stock Down 7.0%

The firm’s 50 day moving average is $2.32 and its two-hundred day moving average is $3.57. The stock has a market cap of $4.95 million, a price-to-earnings ratio of -0.11 and a beta of -1.71.

Urgent.ly (NASDAQ:ULY) last posted its earnings results on Wednesday, November 12th. The company reported ($3.63) EPS for the quarter, missing the consensus estimate of ($2.40) by ($1.23). The firm had revenue of $32.94 million during the quarter, compared to the consensus estimate of $32.30 million.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Urgent.ly stock. Highbridge Capital Management LLC purchased a new stake in Urgent.ly Inc. (NASDAQ:ULY) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 68,748 shares of the company’s stock, valued at approximately $222,000. Highbridge Capital Management LLC owned 4.91% of Urgent.ly at the end of the most recent quarter. Hedge funds and other institutional investors own 28.30% of the company’s stock.

About Urgent.ly

Urgent.ly, Inc (NASDAQ: ULY) operates a digital roadside assistance platform that connects drivers in need of help with a network of service providers. Through its mobile applications and enterprise APIs, the company offers on-demand towing, battery jump-starts, tire changes, fuel delivery and lockout services. By leveraging real-time location data and predictive analytics, Urgent.ly aims to streamline response times and improve the overall customer experience compared to traditional roadside assistance models.

The company’s platform serves both individual consumers and large-scale commercial clients, including automotive original equipment manufacturers (OEMs), fleet operators, rental agencies and insurance providers.