Urgent.ly Inc. (NASDAQ:ULY) Sees Significant Decline in Short Interest

Urgent.ly Inc. (NASDAQ:ULY) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 64,100 shares, a drop of 97.7% from the February 28th total of 2,820,000 shares. Currently, 7.3% of the company’s stock are short sold. Based on an average daily volume of 258,800 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC cut their price target on Urgent.ly from $18.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, March 14th.

Urgent.ly Price Performance

Shares of NASDAQ ULY traded up $0.93 during trading hours on Wednesday, hitting $4.84. 562,498 shares of the stock were exchanged, compared to its average volume of 82,381. The firm has a market capitalization of $6.02 million, a P/E ratio of 0.52 and a beta of 0.85. Urgent.ly has a one year low of $2.99 and a one year high of $32.04. The company’s 50 day moving average is $5.81 and its 200 day moving average is $6.87.

Urgent.ly (NASDAQ:ULY) last posted its quarterly earnings data on Wednesday, March 12th. The company reported ($7.80) EPS for the quarter. The firm had revenue of $32.03 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Urgent.ly stock. Toronto Dominion Bank acquired a new stake in shares of Urgent.ly Inc. (NASDAQ:ULY) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 165,750 shares of the company’s stock, valued at approximately $85,000. Toronto Dominion Bank owned approximately 1.23% of Urgent.ly at the end of the most recent quarter. Institutional investors and hedge funds own 28.30% of the company’s stock.

Urgent.ly Company Profile

Urgent.ly Inc offers mobility assistance software platform for roadside assistance in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its services include car lockout, tire changes, towing, stuck in ditch and winch services, motorcycle towing, electric vehicle towing, jump start, and gas delivery.