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

Ultralife Co. (NASDAQ:ULBI) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 65,400 shares, a decline of 38.1% from the March 31st total of 105,600 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average daily trading volume, of 59,000 shares, the days-to-cover ratio is currently 1.1 days.

Ultralife Stock Performance

Shares of ULBI stock opened at $11.39 on Friday. The stock has a 50-day moving average of $9.20 and a 200-day moving average of $8.21. Ultralife has a one year low of $3.92 and a one year high of $11.85. The stock has a market cap of $187.38 million, a PE ratio of 17.80 and a beta of 1.26. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.80 and a quick ratio of 2.02.

Ultralife (NASDAQ:ULBI) last posted its earnings results on Thursday, February 15th. The technology company reported $0.18 earnings per share for the quarter. The company had revenue of $44.55 million for the quarter. Ultralife had a net margin of 6.19% and a return on equity of 10.45%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Benchmark upped their target price on shares of Ultralife from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. StockNews.com raised Ultralife from a “buy” rating to a “strong-buy” rating in a research note on Wednesday.

Institutional Trading of Ultralife

A number of large investors have recently made changes to their positions in the company. Visionary Wealth Advisors grew its stake in Ultralife by 0.9% in the fourth quarter. Visionary Wealth Advisors now owns 1,082,246 shares of the technology company’s stock valued at $7,381,000 after acquiring an additional 9,997 shares during the period. D.A. Davidson & CO. acquired a new position in shares of Ultralife in the 4th quarter valued at approximately $163,000. Navellier & Associates Inc. acquired a new position in shares of Ultralife in the 4th quarter valued at approximately $310,000. Janney Montgomery Scott LLC increased its stake in Ultralife by 3.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 399,100 shares of the technology company’s stock worth $2,722,000 after purchasing an additional 13,100 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in Ultralife during the 4th quarter worth approximately $59,000. 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.