Raymond James Financial Inc. Acquires New Stake in Ultralife Co. (NASDAQ:ULBI)

Raymond James Financial Inc. bought a new position in shares of Ultralife Co. (NASDAQ:ULBI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 70,002 shares of the technology company's stock, valued at approximately $522,000. Raymond James Financial Inc. owned about 0.42% of Ultralife as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC boosted its holdings in shares of Ultralife by 11.6% during the fourth quarter. Renaissance Technologies LLC now owns 256,090 shares of the technology company's stock worth $1,908,000 after acquiring an additional 26,700 shares during the period. Perritt Capital Management Inc boosted its stake in Ultralife by 100.0% in the 4th quarter. Perritt Capital Management Inc now owns 30,000 shares of the technology company's stock valued at $224,000 after purchasing an additional 15,000 shares during the period. JPMorgan Chase & Co. grew its holdings in Ultralife by 45.3% in the 4th quarter. JPMorgan Chase & Co. now owns 68,952 shares of the technology company's stock valued at $514,000 after buying an additional 21,494 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Ultralife by 13.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 178,170 shares of the technology company's stock valued at $1,327,000 after buying an additional 20,840 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Ultralife by 35.7% during the 4th quarter. Bank of New York Mellon Corp now owns 43,541 shares of the technology company's stock worth $324,000 after buying an additional 11,448 shares during the period. Institutional investors own 30.68% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Ultralife from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th.

Ultralife Price Performance

Shares of NASDAQ ULBI traded up $0.17 during midday trading on Friday, reaching $5.05. The company's stock had a trading volume of 105,378 shares, compared to its average volume of 70,662. 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 company has a market cap of $84.00 million, a P/E ratio of 9.18 and a beta of 0.77. The business's 50 day moving average price is $4.96 and its two-hundred day moving average price is $6.68. Ultralife Co. has a fifty-two week low of $4.07 and a fifty-two week high of $12.63.

Ultralife (NASDAQ:ULBI - Get Free Report) last released its earnings results on Friday, May 9th. The technology company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.02). Ultralife had a net margin of 5.44% and a return on equity of 7.92%. The company had revenue of $50.75 million for the quarter, compared to the consensus estimate of $54.50 million. During the same quarter in the previous year, the company posted $0.21 earnings per share.

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.