Universal Electronics Inc. (NASDAQ:UEIC) Short Interest Update

Universal Electronics Inc. (NASDAQ:UEIC) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 98,300 shares, a growth of 20.2% from the February 13th total of 81,800 shares. Based on an average daily volume of 67,400 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.9% of the shares of the stock are short sold.

Universal Electronics Stock Down 1.5 %

NASDAQ:UEIC opened at $6.79 on Thursday. The business’s 50-day moving average price is $9.05 and its 200 day moving average price is $9.53. The firm has a market cap of $89.03 million, a P/E ratio of -3.67, a PEG ratio of 3.62 and a beta of 1.21. Universal Electronics has a 52-week low of $6.72 and a 52-week high of $14.20.

Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Universal Electronics had a negative return on equity of 3.67% and a negative net margin of 6.09%. The business had revenue of $110.45 million for the quarter, compared to analyst estimates of $102.47 million. Sell-side analysts expect that Universal Electronics will post 0.17 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its position in Universal Electronics by 4.3% in the 3rd quarter. Victory Capital Management Inc. now owns 53,703 shares of the technology company’s stock worth $496,000 after buying an additional 2,203 shares during the period. Empowered Funds LLC boosted its stake in Universal Electronics by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 42,980 shares of the technology company’s stock valued at $397,000 after buying an additional 2,144 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Universal Electronics by 15.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,979 shares of the technology company’s stock valued at $609,000 after buying an additional 8,706 shares in the last quarter. Jane Street Group LLC acquired a new stake in Universal Electronics in the 3rd quarter valued at $163,000. Finally, Barclays PLC boosted its stake in Universal Electronics by 33.5% in the third quarter. Barclays PLC now owns 21,943 shares of the technology company’s stock worth $202,000 after purchasing an additional 5,512 shares in the last quarter. 79.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on UEIC shares. StockNews.com downgraded shares of Universal Electronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 1st. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 target price on shares of Universal Electronics in a research note on Friday, February 21st.

About Universal Electronics

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People’s Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.