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

Ultralife Co. (NASDAQ:ULBI - Get Free Report) was the target of a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 80,300 shares, a growth of 22.8% from the April 15th total of 65,400 shares. Based on an average daily volume of 88,300 shares, the short-interest ratio is currently 0.9 days. Approximately 0.8% of the company's shares are short sold.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Benchmark increased their price objective on shares of Ultralife from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Tuesday, March 5th. StockNews.com lowered shares of Ultralife from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 2nd.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. LSV Asset Management lifted its stake in Ultralife by 32.0% in the third quarter. LSV Asset Management now owns 16,900 shares of the technology company's stock worth $165,000 after acquiring an additional 4,100 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Ultralife during the third quarter worth $118,000. Barclays PLC purchased a new position in Ultralife in the third quarter valued at $127,000. ClariVest Asset Management LLC acquired a new stake in Ultralife in the third quarter valued at $616,000. Finally, Acadian Asset Management LLC purchased a new stake in Ultralife during the 3rd quarter worth about $1,039,000. Institutional investors and hedge funds own 30.68% of the company's stock.

Ultralife Stock Performance

ULBI remained flat at $12.33 during midday trading on Monday. The company's stock had a trading volume of 109,270 shares, compared to its average volume of 77,084. The stock has a market cap of $203.08 million, a price-to-earnings ratio of 19.59 and a beta of 1.12. The business has a fifty day moving average of $9.84 and a 200 day moving average of $8.33. The company has a quick ratio of 2.16, a current ratio of 4.03 and a debt-to-equity ratio of 0.18. Ultralife has a 12 month low of $4.15 and a 12 month high of $13.39.

Ultralife (NASDAQ:ULBI - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The technology company reported $0.18 earnings per share for the quarter. Ultralife had a net margin of 6.19% and a return on equity of 10.31%. The firm had revenue of $44.55 million for the quarter.

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.