Ultralife Co. (NASDAQ:ULBI) Sees Significant Increase in Short Interest

Ultralife Co. (NASDAQ:ULBIGet Free Report) was the recipient of a significant increase in short interest during the month of April. As of April 30th, there was short interest totalling 80,300 shares, an increase of 22.8% from the April 15th total of 65,400 shares. Based on an average daily volume of 88,300 shares, the short-interest ratio is presently 0.9 days. Approximately 0.8% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several brokerages have issued reports on ULBI. StockNews.com lowered Ultralife from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Benchmark lifted their price target on Ultralife from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th.

View Our Latest Stock Analysis on Ultralife

Ultralife Price Performance

ULBI stock traded up $0.13 during mid-day trading on Wednesday, hitting $11.58. 36,584 shares of the stock were exchanged, compared to its average volume of 77,986. 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 business has a fifty day moving average price of $9.93 and a 200 day moving average price of $8.39. Ultralife has a 12 month low of $4.15 and a 12 month high of $13.39. The stock has a market capitalization of $190.72 million, a price-to-earnings ratio of 18.13 and a beta of 1.12.

Ultralife (NASDAQ:ULBIGet Free Report) last released its quarterly earnings data on Thursday, February 15th. The technology company reported $0.18 EPS for the quarter. The firm had revenue of $44.55 million for the quarter. Ultralife had a return on equity of 10.31% and a net margin of 6.19%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ULBI. Quadrature Capital Ltd purchased a new position in shares of Ultralife during the 1st quarter worth approximately $200,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Ultralife during the 1st quarter worth approximately $100,000. Hillsdale Investment Management Inc. purchased a new position in shares of Ultralife during the 1st quarter worth approximately $166,000. Vanguard Group Inc. grew its holdings in shares of Ultralife by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 515,840 shares of the technology company’s stock worth $4,545,000 after acquiring an additional 6,640 shares during the period. Finally, Empowered Funds LLC grew its holdings in shares of Ultralife by 7.8% during the 1st quarter. Empowered Funds LLC now owns 31,396 shares of the technology company’s stock worth $277,000 after acquiring an additional 2,275 shares during the period. Hedge funds and other institutional investors own 30.68% of the company’s stock.

About Ultralife

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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.

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