Definitely. Or, as Southmark wrote, you can add a space blanket between your hammock and all insulation underneath. (Or you can do both.) Any way this (space blanket) has always worked great for me, but calls for some personal testing. You won't need to suspend it, just fold it or cut it for exact fit to your short UQ and maybe add a stitch or 4 to hold it in place.
I find that sleeping inside a synthetic bag also adds at least a few degrees to back warmth.
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