Short Interest in Universal Electronics Inc. (NASDAQ:UEIC) Grows By 20.2%

Universal Electronics Inc. (NASDAQ:UEIC) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 98,300 shares, an increase of 20.2% from the February 13th total of 81,800 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average trading volume of 67,400 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Trading of Universal Electronics

A number of institutional investors have recently bought and sold shares of the business. Two Sigma Advisers LP lifted its holdings in Universal Electronics by 36.2% during the 4th quarter. Two Sigma Advisers LP now owns 78,200 shares of the technology company’s stock worth $860,000 after buying an additional 20,800 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of Universal Electronics during the fourth quarter worth about $121,000. Millennium Management LLC increased its position in shares of Universal Electronics by 63.9% during the fourth quarter. Millennium Management LLC now owns 62,972 shares of the technology company’s stock worth $693,000 after purchasing an additional 24,541 shares in the last quarter. Ancora Advisors LLC acquired a new position in Universal Electronics in the 4th quarter valued at about $1,703,000. Finally, 683 Capital Management LLC acquired a new position in Universal Electronics in the 4th quarter valued at about $326,000. 79.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on UEIC shares. Rosenblatt Securities restated a “buy” rating and issued a $15.00 target price on shares of Universal Electronics in a research report on Friday, February 21st. StockNews.com cut Universal Electronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 1st.

Universal Electronics Stock Down 0.1 %

UEIC opened at $6.89 on Tuesday. Universal Electronics has a 52 week low of $6.73 and a 52 week high of $14.20. The business has a fifty day simple moving average of $9.18 and a 200-day simple moving average of $9.57. The firm has a market cap of $90.34 million, a P/E ratio of -3.72, a P/E/G ratio of 3.62 and a beta of 1.21.

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

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.