Needham & Company LLC Cuts Urgent.ly (NASDAQ:ULY) Price Target to $2.00

Urgent.ly (NASDAQ:ULY) had its price objective reduced by Needham & Company LLC from $5.00 to $2.00 in a report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Urgent.ly Stock Performance

Shares of ULY stock opened at $1.00 on Tuesday. The company has a market cap of $13.42 million and a P/E ratio of 0.00. The business has a 50 day moving average of $1.50 and a two-hundred day moving average of $1.87. Urgent.ly has a 52 week low of $0.87 and a 52 week high of $12.00. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 6.88.

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

Hedge Funds Weigh In On Urgent.ly

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellspring Financial Advisors LLC bought a new stake in shares of Urgent.ly during the fourth quarter valued at about $69,000. Wealthspire Advisors LLC bought a new position in Urgent.ly during the 4th quarter valued at $136,000. Black Maple Capital Management LP bought a new position in Urgent.ly during the 4th quarter valued at $447,000. Cowen AND Company LLC acquired a new position in shares of Urgent.ly during the 4th quarter valued at $1,275,000. Finally, B. Riley Financial Inc. bought a new stake in shares of Urgent.ly in the 4th quarter worth $1,322,000. Institutional investors and hedge funds own 28.30% of the company’s stock.

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.