Ubiquiti Inc. (NYSE:UI) Short Interest Update

Ubiquiti Inc. (NYSE:UI) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 1,380,000 shares, a growth of 7.8% from the June 30th total of 1,280,000 shares. Based on an average trading volume of 111,300 shares, the short-interest ratio is presently 12.4 days. Currently, 18.7% of the company’s stock are sold short.

Institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. increased its stake in shares of Ubiquiti by 2.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 3,038 shares of the company’s stock worth $530,000 after acquiring an additional 78 shares during the period. Symmetry Partners LLC increased its stake in shares of Ubiquiti by 8.3% in the first quarter. Symmetry Partners LLC now owns 1,567 shares of the company’s stock worth $222,000 after acquiring an additional 120 shares during the period. US Bancorp DE increased its stake in shares of Ubiquiti by 25.0% in the first quarter. US Bancorp DE now owns 696 shares of the company’s stock worth $98,000 after acquiring an additional 139 shares during the period. Hussman Strategic Advisors Inc. increased its stake in shares of Ubiquiti by 0.7% in the first quarter. Hussman Strategic Advisors Inc. now owns 20,500 shares of the company’s stock worth $2,902,000 after acquiring an additional 150 shares during the period. Finally, First Horizon Advisors Inc. increased its stake in shares of Ubiquiti by 9.5% in the first quarter. First Horizon Advisors Inc. now owns 2,190 shares of the company’s stock worth $310,000 after acquiring an additional 190 shares during the period. Institutional investors and hedge funds own 10.04% of the company’s stock.

A number of research firms recently commented on UI. Credit Suisse Group reissued a “sell” rating and set a $132.00 target price on shares of Ubiquiti in a research report on Monday, July 20th. Zacks Investment Research cut shares of Ubiquiti from a “buy” rating to a “hold” rating in a research report on Friday, May 22nd. Finally, Barclays increased their target price on shares of Ubiquiti from $115.00 to $126.00 and gave the company an “underweight” rating in a research report on Monday, May 11th. Four equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. Ubiquiti has an average rating of “Hold” and a consensus price target of $156.25.

Shares of Ubiquiti stock opened at $185.30 on Friday. Ubiquiti has a 12-month low of $107.22 and a 12-month high of $199.91. The firm has a market capitalization of $11.80 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 2.31 and a beta of 1.13. The firm’s 50 day simple moving average is $176.39 and its two-hundred day simple moving average is $162.05.

Ubiquiti (NYSE:UI) last issued its quarterly earnings results on Friday, May 8th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.26. Ubiquiti had a net margin of 28.56% and a negative return on equity of 191.57%. The business had revenue of $337.40 million for the quarter, compared to analyst estimates of $310.32 million. The company’s revenue was up 18.4% compared to the same quarter last year. Equities research analysts anticipate that Ubiquiti will post 5.56 EPS for the current fiscal year.

About Ubiquiti

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers worldwide. It develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other WLAN products, as well as offers consumer products under the Ubiquiti Labs brand name.

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