1,109,170 Shares in Ultralife Corporation $ULBI Acquired by Visionary Wealth Advisors

Key Points

• Visionary Wealth Advisors acquired 1,109,170 Ultralife shares worth approximately $7.01 million, giving it a 6.66% ownership stake. Institutional and hedge-fund investors collectively own 30.68% of the company.
• Ultralife reported quarterly earnings of $0.19 per share, matching analyst estimates, but revenue of $47.94 million fell short of the $55 million consensus. The company posted a negative net margin of 3.50%.
• ULBI opened at $6.77, within its one-year range of $4.90 to $8.25. The stock carries an overall “Sell” rating, with Weiss Ratings recently downgrading it from “sell (d+)” to “sell (d).”

Visionary Wealth Advisors bought a new stake in shares of Ultralife Corporation (NASDAQ:ULBI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,109,170 shares of the technology company's stock, valued at approximately $7,010,000. Visionary Wealth Advisors owned 6.66% of Ultralife at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. XTX Topco Ltd boosted its stake in shares of Ultralife by 19.9% during the 4th quarter. XTX Topco Ltd now owns 15,456 shares of the technology company's stock worth $88,000 after acquiring an additional 2,569 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Ultralife by 30.7% in the 4th quarter. Bank of America Corp DE now owns 12,067 shares of the technology company's stock worth $90,000 after purchasing an additional 2,836 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Ultralife by 1,650.0% in the 2nd quarter. Lazard Asset Management LLC now owns 5,565 shares of the technology company's stock worth $49,000 after purchasing an additional 5,247 shares during the period. Empowered Funds LLC bought a new position in Ultralife in the 4th quarter worth $44,000. Finally, Janney Montgomery Scott LLC raised its holdings in Ultralife by 2.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 518,000 shares of the technology company's stock worth $3,377,000 after purchasing an additional 10,200 shares during the period. 30.68% of the stock is owned by hedge funds and other institutional investors.

Ultralife Stock Performance

ULBI opened at $6.77 on Tuesday. The company has a 50 day simple moving average of $6.09 and a two-hundred day simple moving average of $6.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.30. The firm has a market cap of $112.81 million, a P/E ratio of -16.92 and a beta of 0.80. Ultralife Corporation has a 1-year low of $4.90 and a 1-year high of $8.25.

Ultralife (NASDAQ:ULBI - Get Free Report) last released its earnings results on Friday, August 7th. The technology company reported $0.19 earnings per share for the quarter, meeting analysts' consensus estimates of $0.19. Ultralife had a negative net margin of 3.50% and a positive return on equity of 2.75%. The company had revenue of $47.94 million for the quarter, compared to analysts' expectations of $55.00 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Ultralife from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, June 12th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Ultralife currently has an average rating of "Sell".

Ultralife Company Profile

Ultralife Corporation NASDAQ: ULBI develops, manufactures and sells a broad range of energy and communications products for defense, medical, automotive and consumer electronics markets. The company operates through two primary segments: Power Systems and Communications Systems. In its Power Systems segment, Ultralife produces lithium-ion rechargeable cells and battery packs, primary lithium batteries, alkaline and rechargeable battery packs, chargers and battery accessories designed to meet demanding performance and safety requirements.

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