Urgent.ly Inc. (NASDAQ:ULY) Short Interest Down 40.5% in March

Urgent.ly Inc. (NASDAQ:ULY) was the target of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 46,200 shares, a drop of 40.5% from the February 29th total of 77,600 shares. Based on an average daily trading volume, of 90,300 shares, the short-interest ratio is currently 0.5 days.

Urgent.ly Trading Down 3.5 %

ULY stock opened at $1.92 on Thursday. The firm’s fifty day moving average price is $2.31. Urgent.ly has a one year low of $1.83 and a one year high of $12.00.

Insiders Place Their Bets

In other news, Director Volkow Ben sold 24,500 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $2.22, for a total value of $54,390.00. Following the sale, the director now owns 562,522 shares in the company, valued at $1,248,798.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Trading of Urgent.ly

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in Urgent.ly during the fourth quarter valued at $37,000. Bank Hapoalim BM acquired a new stake in Urgent.ly during the fourth quarter valued at $47,000. Wellspring Financial Advisors LLC acquired a new stake in Urgent.ly during the fourth quarter valued at $69,000. Wealthspire Advisors LLC acquired a new stake in Urgent.ly during the fourth quarter valued at $136,000. Finally, Black Maple Capital Management LP acquired a new stake in Urgent.ly during the fourth quarter valued at $447,000. Institutional investors and hedge funds own 28.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC cut their price objective on shares of Urgent.ly from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, March 15th.

Urgent.ly Company Profile

Urgent.ly Inc designs and develops a mobility assistance software platform for roadside assistance. Its services include car lockout, tire changes, towing, stuck in ditch and winch services, motorcycle towing, electric vehicle towing, jump start, and gas delivery. The company's software platform combines location-based services, real-time data, AI and machine-to-machine communication to provide roadside assistance solutions.