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

Universal Electronics Inc. (NASDAQ:UEIC) was the recipient of a significant increase in short interest in the month of 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. Based on an average daily trading volume, of 67,400 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.9% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in UEIC. Ancora Advisors LLC acquired a new stake in Universal Electronics during the 4th quarter worth about $1,703,000. Peapod Lane Capital LLC acquired a new position in shares of Universal Electronics in the 4th quarter valued at about $1,215,000. Russell Investments Group Ltd. lifted its holdings in shares of Universal Electronics by 109.6% in the 4th quarter. Russell Investments Group Ltd. now owns 129,922 shares of the technology company’s stock valued at $1,429,000 after buying an additional 67,939 shares during the period. Dimensional Fund Advisors LP raised its holdings in Universal Electronics by 12.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 453,403 shares of the technology company’s stock worth $4,987,000 after purchasing an additional 50,003 shares during the period. Finally, 683 Capital Management LLC acquired a new position in Universal Electronics in the 4th quarter worth about $326,000. 79.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Universal Electronics Trading Down 0.1 %

Shares of NASDAQ:UEIC opened at $6.89 on Tuesday. Universal Electronics has a 12-month low of $6.73 and a 12-month high of $14.20. The business’s fifty day simple moving average is $9.18 and its 200-day simple moving average is $9.57. The company has a market capitalization of $90.34 million, a PE ratio of -3.72, a P/E/G ratio of 3.62 and a beta of 1.21.

Universal Electronics (NASDAQ:UEIC) last announced its earnings results on Thursday, February 20th. The technology company reported $0.10 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $102.47 million. Research analysts predict that Universal Electronics will post 0.17 EPS 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.