Ubiquiti Inc. (NYSE:UI) Sees Significant Drop in Short Interest

Ubiquiti Inc. (NYSE:UI - Get Free Report) was the target of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 235,200 shares, a decrease of 25.8% from the November 15th total of 316,800 shares. Approximately 5.6% of the company's shares are sold short. Based on an average daily trading volume, of 72,200 shares, the short-interest ratio is currently 3.3 days.

Ubiquiti Stock Down 0.5 %

NYSE UI traded down $1.71 during trading hours on Friday, hitting $344.89. The company had a trading volume of 85,490 shares, compared to its average volume of 82,713. The firm's 50 day moving average is $299.26 and its 200 day moving average is $218.32. The company has a market capitalization of $20.86 billion, a price-to-earnings ratio of 53.39 and a beta of 1.12. Ubiquiti has a fifty-two week low of $104.24 and a fifty-two week high of $366.33. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.54 and a quick ratio of 1.32.

Ubiquiti Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.40 annualized dividend and a dividend yield of 0.70%. Ubiquiti's payout ratio is currently 37.15%.

Wall Street Analysts Forecast Growth

UI has been the topic of a number of research reports. BWS Financial raised their price objective on Ubiquiti from $240.00 to $385.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Barclays increased their target price on shares of Ubiquiti from $104.00 to $236.00 and gave the stock an "underweight" rating in a research report on Monday, November 11th. Finally, StockNews.com raised shares of Ubiquiti from a "hold" rating to a "buy" rating in a research report on Sunday, November 17th.

Hedge Funds Weigh In On Ubiquiti

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC purchased a new position in Ubiquiti in the 3rd quarter valued at about $323,000. Algert Global LLC acquired a new position in shares of Ubiquiti in the third quarter worth about $838,000. Vanguard Group Inc. boosted its holdings in Ubiquiti by 24.1% in the first quarter. Vanguard Group Inc. now owns 97,817 shares of the company's stock valued at $11,332,000 after purchasing an additional 18,986 shares during the last quarter. Semanteon Capital Management LP acquired a new stake in Ubiquiti during the 3rd quarter valued at approximately $599,000. Finally, Zacks Investment Management purchased a new stake in Ubiquiti during the 3rd quarter worth approximately $8,892,000. 4.00% of the stock is owned by institutional investors and hedge funds.

Ubiquiti Company Profile

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company 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 related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.