Navellier & Associates Inc. Sells 21,976 Shares of Ultralife Co. (NASDAQ:ULBI)

Navellier & Associates Inc. lowered its stake in Ultralife Co. (NASDAQ:ULBI) by 40.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 32,345 shares of the technology company’s stock after selling 21,976 shares during the period. Navellier & Associates Inc.’s holdings in Ultralife were worth $292,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ULBI. O Shaughnessy Asset Management LLC purchased a new position in shares of Ultralife during the first quarter valued at approximately $100,000. Rhumbline Advisers grew its stake in shares of Ultralife by 1,728.3% in the second quarter. Rhumbline Advisers now owns 11,811 shares of the technology company’s stock worth $125,000 after acquiring an additional 11,165 shares during the last quarter. Perritt Capital Management Inc. grew its stake in shares of Ultralife by 25.0% in the first quarter. Perritt Capital Management Inc. now owns 15,000 shares of the technology company’s stock worth $132,000 after acquiring an additional 3,000 shares during the last quarter. Juncture Wealth Strategies LLC purchased a new stake in shares of Ultralife in the third quarter worth $165,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Ultralife in the first quarter worth $200,000. Institutional investors own 30.68% of the company’s stock.

Ultralife Stock Up 4.2 %

ULBI stock opened at $7.63 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.62 and a current ratio of 3.30. The business’s 50-day moving average is $8.81 and its two-hundred day moving average is $10.12. The company has a market cap of $126.89 million, a price-to-earnings ratio of 13.87 and a beta of 0.98. Ultralife Co. has a fifty-two week low of $6.36 and a fifty-two week high of $13.39.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ULBI shares. Benchmark reaffirmed a “buy” rating and set a $14.00 price target on shares of Ultralife in a report on Friday, November 15th. StockNews.com downgraded Ultralife from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 3rd.

About Ultralife

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.