Ultralife Co. (NASDAQ:ULBI) Sees Large Decline in Short Interest

Ultralife Co. (NASDAQ:ULBI) was the recipient of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 65,400 shares, a decrease of 38.1% from the March 31st total of 105,600 shares. Based on an average daily volume of 59,000 shares, the short-interest ratio is presently 1.1 days. Approximately 0.7% of the company’s shares are short sold.

Analyst Ratings Changes

Several brokerages have recently issued reports on ULBI. Benchmark boosted their price objective on shares of Ultralife from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. StockNews.com raised shares of Ultralife from a “buy” rating to a “strong-buy” rating in a report on Wednesday.

Ultralife Stock Performance

Shares of NASDAQ ULBI opened at $11.39 on Friday. The stock has a market capitalization of $187.37 million, a P/E ratio of 17.80 and a beta of 1.26. The firm’s 50-day moving average price is $9.16 and its two-hundred day moving average price is $8.20. Ultralife has a 52-week low of $3.92 and a 52-week high of $11.85. The company has a quick ratio of 2.02, a current ratio of 3.80 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 (EPS) for the quarter. Ultralife had a return on equity of 10.45% and a net margin of 6.19%. The business had revenue of $44.55 million during the quarter.

Hedge Funds Weigh In On Ultralife

A number of institutional investors and hedge funds have recently bought and sold shares of ULBI. LSV Asset Management lifted its stake in shares of Ultralife by 32.0% in the 3rd quarter. LSV Asset Management now owns 16,900 shares of the technology company’s stock worth $165,000 after acquiring an additional 4,100 shares during the period. Jump Financial LLC acquired a new stake in Ultralife in the third quarter worth approximately $118,000. Barclays PLC bought a new position in Ultralife during the 3rd quarter valued at $127,000. ClariVest Asset Management LLC bought a new position in Ultralife during the 3rd quarter valued at $616,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Ultralife during the 3rd quarter valued at $1,039,000. Institutional investors own 30.68% of the company’s stock.

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.