Universal Electronics Inc. (NASDAQ:UEIC) Short Interest Up 23.6% in June

Universal Electronics Inc. (NASDAQ:UEIC) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 118,000 shares, an increase of 23.6% from the May 31st total of 95,500 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 60,500 shares, the days-to-cover ratio is presently 2.0 days.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on UEIC. Rosenblatt Securities restated a “neutral” rating and set a $15.00 price objective on shares of Universal Electronics in a report on Friday, May 3rd. StockNews.com upgraded shares of Universal Electronics from a “hold” rating to a “buy” rating in a research note on Friday, March 15th. Finally, B. Riley upped their target price on Universal Electronics from $10.50 to $11.00 and gave the company a “neutral” rating in a research report on Monday, May 6th.

Universal Electronics Price Performance

NASDAQ UEIC traded up $0.12 during trading hours on Friday, reaching $11.62. The stock had a trading volume of 50,415 shares, compared to its average volume of 76,918. Universal Electronics has a 52-week low of $7.02 and a 52-week high of $14.20. The stock has a fifty day moving average of $11.54 and a 200 day moving average of $9.95.

Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.05. The business had revenue of $91.90 million for the quarter, compared to the consensus estimate of $90.55 million. Universal Electronics had a negative net margin of 11.27% and a negative return on equity of 22.59%. On average, sell-side analysts expect that Universal Electronics will post -0.38 earnings per share for the current year.

Institutional Investors Weigh In On Universal Electronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UEIC. Ancora Advisors LLC acquired a new stake in Universal Electronics during the third quarter worth about $1,486,000. Kent Lake Capital LLC purchased a new position in shares of Universal Electronics during the 1st quarter valued at approximately $1,588,000. AMH Equity Ltd lifted its stake in shares of Universal Electronics by 35.1% in the 4th quarter. AMH Equity Ltd now owns 400,000 shares of the technology company’s stock valued at $3,756,000 after purchasing an additional 104,000 shares during the period. GSA Capital Partners LLP boosted its holdings in Universal Electronics by 261.2% during the third quarter. GSA Capital Partners LLP now owns 122,694 shares of the technology company’s stock worth $1,110,000 after buying an additional 88,724 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC grew its position in Universal Electronics by 15.2% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 380,573 shares of the technology company’s stock valued at $3,574,000 after buying an additional 50,117 shares during the period. 79.35% of the stock is owned by institutional investors and hedge funds.

Universal Electronics Company Profile

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.