Short Interest in Ultralife Co. (NASDAQ:ULBI) Grows By 32.8%

Ultralife Co. (NASDAQ:ULBI) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 286,400 shares, a growth of 32.8% from the February 13th total of 215,600 shares. Currently, 2.8% of the company’s stock are sold short. Based on an average daily volume of 51,000 shares, the short-interest ratio is presently 5.6 days.

Ultralife Price Performance

Shares of ULBI opened at $5.51 on Friday. The company has a 50 day moving average price of $7.09 and a 200-day moving average price of $8.03. Ultralife has a fifty-two week low of $5.31 and a fifty-two week high of $13.39. The stock has a market capitalization of $91.61 million, a PE ratio of 10.02 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.62 and a current ratio of 3.30.

Institutional Investors Weigh In On Ultralife

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its position in shares of Ultralife by 250.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 47,458 shares of the technology company’s stock worth $429,000 after purchasing an additional 33,929 shares during the period. Geode Capital Management LLC lifted its position in Ultralife by 1.2% during the third quarter. Geode Capital Management LLC now owns 232,681 shares of the technology company’s stock valued at $2,104,000 after acquiring an additional 2,835 shares during the last quarter. IFP Advisors Inc purchased a new stake in Ultralife during the fourth quarter valued at approximately $85,000. Janney Montgomery Scott LLC lifted its position in Ultralife by 0.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 447,000 shares of the technology company’s stock valued at $3,330,000 after acquiring an additional 3,850 shares during the last quarter. Finally, Barclays PLC lifted its position in Ultralife by 21.3% during the third quarter. Barclays PLC now owns 13,395 shares of the technology company’s stock valued at $121,000 after acquiring an additional 2,355 shares during the last quarter. Hedge funds and other 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.