Ultralife Co. (NASDAQ:ULBI) Short Interest Down 25.9% in May

Ultralife Co. (NASDAQ:ULBI) was the recipient of a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 55,300 shares, a decline of 25.9% from the May 15th total of 74,600 shares. Based on an average daily trading volume, of 94,000 shares, the short-interest ratio is presently 0.6 days. Approximately 0.6% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

ULBI has been the subject of several recent analyst reports. StockNews.com downgraded shares of Ultralife from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Benchmark boosted their target price on Ultralife from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th.

Ultralife Stock Performance

ULBI traded down $0.34 on Friday, reaching $10.14. 58,880 shares of the stock were exchanged, compared to its average volume of 69,155. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.03 and a quick ratio of 2.16. The company’s 50-day moving average price is $10.87 and its 200 day moving average price is $8.97. The firm has a market capitalization of $168.53 million, a PE ratio of 15.84 and a beta of 0.99. Ultralife has a fifty-two week low of $4.60 and a fifty-two week high of $13.39.

Ultralife (NASDAQ:ULBI) last released its earnings results on Thursday, April 25th. The technology company reported $0.21 EPS for the quarter. Ultralife had a return on equity of 10.31% and a net margin of 6.19%. The firm had revenue of $41.93 million during the quarter.

Institutional Trading of Ultralife

Several large investors have recently made changes to their positions in ULBI. Visionary Wealth Advisors lifted its position in Ultralife by 0.9% during the fourth quarter. Visionary Wealth Advisors now owns 1,082,246 shares of the technology company’s stock valued at $7,381,000 after purchasing an additional 9,997 shares during the period. Acadian Asset Management LLC acquired a new position in Ultralife during the third quarter worth $1,039,000. Citigroup Inc. purchased a new position in Ultralife during the third quarter valued at $74,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Ultralife in the third quarter valued at about $36,000. Finally, Pitti Group Wealth Management LLC increased its stake in shares of Ultralife by 41.3% during the fourth quarter. Pitti Group Wealth Management LLC now owns 18,120 shares of the technology company’s stock worth $124,000 after purchasing an additional 5,300 shares in the last quarter. 30.68% of the stock is owned by hedge funds and other institutional investors.

Ultralife Company Profile

Ultralife Corporation, together with its subsidiaries, designs, manufactures, installs, and maintains power, and communication and electronics systems worldwide. The company operates in two segments, Battery & Energy Products and Communications Systems. The Battery & Energy Products segment offers lithium 9-volt, cylindrical, thin lithium manganese dioxide, rechargeable, and other non-rechargeable batteries; lithium-ion cells, multi-kilowatt module lithium-ion battery systems, and uninterruptable power supplies; and rugged military and commercial battery charging systems and accessories, including smart chargers, multi-bay charging systems, and various cables.