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

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

Ultralife Stock Performance

ULBI opened at $5.58 on Tuesday. The business’s 50-day simple moving average is $7.01 and its 200 day simple moving average is $7.94. Ultralife has a 52-week low of $5.31 and a 52-week high of $13.39. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.62 and a current ratio of 3.30. The firm has a market capitalization of $92.78 million, a PE ratio of 10.15 and a beta of 1.05.

Institutional Trading of Ultralife

A number of large investors have recently added to or reduced their stakes in ULBI. Barclays PLC raised its holdings in shares of Ultralife by 13.7% in the 4th quarter. Barclays PLC now owns 15,233 shares of the technology company’s stock valued at $113,000 after purchasing an additional 1,838 shares during the period. Geode Capital Management LLC increased 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 worth $2,104,000 after buying an additional 2,835 shares during the last quarter. Bank of America Corp DE raised its stake in Ultralife by 30.7% in the fourth quarter. Bank of America Corp DE now owns 12,067 shares of the technology company’s stock valued at $90,000 after buying an additional 2,836 shares during the period. Marshall Wace LLP lifted its position in shares of Ultralife by 11.6% in the fourth quarter. Marshall Wace LLP now owns 32,885 shares of the technology company’s stock valued at $245,000 after buying an additional 3,426 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Ultralife by 0.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 447,000 shares of the technology company’s stock worth $3,330,000 after acquiring an additional 3,850 shares during the period. Institutional investors and hedge funds own 30.68% of the company’s stock.

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.