Ultralife (NASDAQ:ULBI) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Ultralife (NASDAQ:ULBI) from a buy rating to a hold rating in a research note published on Tuesday morning.

Ultralife Price Performance

Shares of ULBI stock opened at $5.51 on Tuesday. The stock has a 50-day moving average price of $6.94 and a 200 day moving average price of $7.91. The company has a quick ratio of 1.62, a current ratio of 3.30 and a debt-to-equity ratio of 0.04. The firm has a market cap of $91.61 million, a price-to-earnings ratio of 10.02 and a beta of 1.05. Ultralife has a 12 month low of $5.31 and a 12 month high of $13.39.

Hedge Funds Weigh In On Ultralife

Several institutional investors have recently modified their holdings of the stock. Visionary Wealth Advisors grew its position in shares of Ultralife by 17.1% during the 4th quarter. Visionary Wealth Advisors now owns 1,292,836 shares of the technology company’s stock worth $9,632,000 after buying an additional 188,384 shares during the period. Squarepoint Ops LLC grew its position in shares of Ultralife by 47.1% during the 4th quarter. Squarepoint Ops LLC now owns 42,261 shares of the technology company’s stock worth $315,000 after buying an additional 13,538 shares during the period. Nuveen Asset Management LLC grew its position in shares of Ultralife by 59.1% during the 4th quarter. Nuveen Asset Management LLC now owns 21,647 shares of the technology company’s stock worth $161,000 after buying an additional 8,037 shares during the period. Bank of America Corp DE grew its position in shares of Ultralife by 30.7% during the 4th quarter. Bank of America Corp DE now owns 12,067 shares of the technology company’s stock worth $90,000 after buying an additional 2,836 shares during the period. Finally, Northern Trust Corp grew its position in shares of Ultralife by 8.0% during the 4th quarter. Northern Trust Corp now owns 87,633 shares of the technology company’s stock worth $653,000 after buying an additional 6,484 shares during the period. 30.68% of the stock is currently owned by institutional investors and hedge funds.

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.