Ultralife Co. (NASDAQ:ULBI) Short Interest Down 18.1% in March

Ultralife Co. (NASDAQ:ULBI) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 105,600 shares, a drop of 18.1% from the March 15th total of 128,900 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average trading volume of 62,100 shares, the short-interest ratio is currently 1.7 days.

Ultralife Stock Performance

Shares of NASDAQ ULBI traded up $0.06 during trading on Friday, reaching $8.96. 32,292 shares of the company traded hands, compared to its average volume of 60,469. The firm’s fifty day simple moving average is $8.91 and its 200 day simple moving average is $8.27. The stock has a market cap of $147.40 million, a P/E ratio of 20.36 and a beta of 1.26. Ultralife has a 12-month low of $3.92 and a 12-month high of $11.85. The company has a current ratio of 3.80, a quick ratio of 2.02 and a debt-to-equity ratio of 0.19.

Ultralife (NASDAQ:ULBI) last released its quarterly earnings data on Thursday, February 15th. The technology company reported $0.18 earnings per share for the quarter. Ultralife had a return on equity of 7.36% and a net margin of 4.54%. The business had revenue of $44.55 million during the quarter.

Wall Street Analyst Weigh In

ULBI has been the subject of a number of research analyst reports. StockNews.com lowered Ultralife from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 26th. Benchmark raised 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.

Hedge Funds Weigh In On Ultralife

Institutional investors and hedge funds have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Ultralife in the 3rd quarter worth about $36,000. Citigroup Inc. acquired a new stake in Ultralife in the 3rd quarter worth about $74,000. Victory Capital Management Inc. acquired a new stake in Ultralife in the 4th quarter worth about $59,000. Virtu Financial LLC acquired a new stake in Ultralife in the 4th quarter worth about $72,000. Finally, Algert Global LLC acquired a new stake in Ultralife in the 3rd quarter worth about $106,000. Hedge funds and other institutional investors own 30.68% of the company’s stock.

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.