Michael Edward Manna Acquires 1,500 Shares of Ultralife Co. (NASDAQ:ULBI) Stock

Ultralife Co. (NASDAQ:ULBI) CEO Michael Edward Manna purchased 1,500 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was bought at an average cost of $7.25 per share, for a total transaction of $10,875.00. Following the completion of the purchase, the chief executive officer now directly owns 19,874 shares in the company, valued at approximately $144,086.50. This trade represents a 8.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Ultralife Price Performance

ULBI 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. Ultralife Co. has a 52-week low of $6.36 and a 52-week high of $13.39. The stock has a market capitalization of $126.89 million, a PE ratio of 13.87 and a beta of 0.98. The stock’s 50 day moving average price is $8.77 and its 200-day moving average price is $10.08.

Hedge Funds Weigh In On Ultralife

Several hedge funds have recently made changes to their positions in ULBI. Vanguard Group Inc. increased its stake in shares of Ultralife by 1.3% during the first quarter. Vanguard Group Inc. now owns 515,840 shares of the technology company’s stock valued at $4,545,000 after buying an additional 6,640 shares during the period. O Shaughnessy Asset Management LLC purchased a new position in shares of Ultralife during the first quarter valued at approximately $100,000. Quadrature Capital Ltd bought a new stake in shares of Ultralife during the first quarter valued at approximately $200,000. Perritt Capital Management Inc. boosted its position in shares of Ultralife by 25.0% during the first quarter. Perritt Capital Management Inc. now owns 15,000 shares of the technology company’s stock valued at $132,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Ultralife by 203.1% during the second quarter. Bank of New York Mellon Corp now owns 39,111 shares of the technology company’s stock valued at $415,000 after purchasing an additional 26,206 shares in the last quarter. 30.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ULBI has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating and issued a $14.00 price target on shares of Ultralife in a research note on Friday, November 15th. StockNews.com cut Ultralife from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 3rd.

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.