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

Urgent.ly Inc. (NASDAQ:ULY) saw a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 69,800 shares, an increase of 18.9% from the May 15th total of 58,700 shares. Based on an average daily volume of 40,600 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.7% of the shares of the company are short sold.

Urgent.ly Stock Down 7.7 %

NASDAQ ULY traded down $0.15 during trading hours on Friday, hitting $1.79. 8,479 shares of the stock were exchanged, compared to its average volume of 16,711. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 6.88. Urgent.ly has a 12-month low of $1.47 and a 12-month high of $12.00. The stock has a 50-day moving average of $1.89 and a 200 day moving average of $2.32.

Urgent.ly (NASDAQ:ULY) last issued its earnings results on Monday, May 13th. The company reported ($0.97) earnings per share (EPS) for the quarter. The firm had revenue of $40.09 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $5.00 target price on shares of Urgent.ly in a research note on Tuesday, May 14th.

Insiders Place Their Bets

In other Urgent.ly news, Director Volkow Ben sold 24,500 shares of Urgent.ly stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $2.22, for a total transaction of $54,390.00. Following the transaction, the director now owns 562,522 shares of the company’s stock, valued at $1,248,798.84. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 51,500 shares of company stock valued at $101,362.

Institutional Investors Weigh In On Urgent.ly

Several institutional investors have recently made changes to their positions in the stock. Bank Hapoalim BM purchased a new stake in shares of Urgent.ly during the 4th quarter worth approximately $47,000. Wellspring Financial Advisors LLC purchased a new position in shares of Urgent.ly in the fourth quarter valued at $69,000. Wealthspire Advisors LLC acquired a new position in shares of Urgent.ly during the 4th quarter worth $136,000. Black Maple Capital Management LP purchased a new stake in shares of Urgent.ly in the 4th quarter worth about $447,000. Finally, Cowen AND Company LLC acquired a new stake in Urgent.ly in the 4th quarter valued at about $1,275,000. 28.30% of the stock is currently owned by hedge funds and other institutional investors.

About Urgent.ly

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.