Ultralife (NASDAQ:ULBI) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Ultralife's stock rating was dropped from "strong-buy" to "hold" by Wall Street Zen, signaling a change in investor sentiment.
• The company reported earnings of $0.07 EPS for the last quarter, falling short of the expected $0.14 EPS estimate.
• Insider transactions showed increased confidence, with a director purchasing nearly 30,000 shares recently, boosting their ownership stake in the company.

Ultralife (NASDAQ:ULBI - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "hold" rating in a note issued to investors on Saturday.

Ultralife Price Performance

NASDAQ:ULBI opened at $6.85 on Friday. The stock has a market cap of $113.98 million, a P/E ratio of 36.05 and a beta of 1.08. Ultralife has a one year low of $4.07 and a one year high of $10.09. The company has a fifty day moving average price of $7.64 and a 200 day moving average price of $6.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.31 and a quick ratio of 1.62.

Ultralife (NASDAQ:ULBI - Get Free Report) last released its earnings results on Thursday, August 7th. The technology company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.07). Ultralife had a net margin of 1.79% and a return on equity of 2.68%. The company had revenue of $48.56 million for the quarter, compared to analyst estimates of $51.00 million.

Insider Activity at Ultralife

In other news, Director Bradford T. Whitmore acquired 29,766 shares of Ultralife stock in a transaction on Thursday, August 21st. The stock was bought at an average price of $6.63 per share, for a total transaction of $197,348.58. Following the transaction, the director owned 1,128,731 shares of the company's stock, valued at $7,483,486.53. The trade was a 2.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders purchased 58,664 shares of company stock valued at $387,049. 40.00% of the stock is currently owned by company insiders.

Institutional Trading of Ultralife

A number of hedge funds have recently modified their holdings of the company. IFP Advisors Inc lifted its position in shares of Ultralife by 24.6% in the 1st quarter. IFP Advisors Inc now owns 14,200 shares of the technology company's stock worth $76,000 after acquiring an additional 2,800 shares during the period. Bank of America Corp DE lifted its position 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 acquiring an additional 2,836 shares during the period. Pitti Group Wealth Management LLC lifted its position in shares of Ultralife by 23.4% in the 1st quarter. Pitti Group Wealth Management LLC now owns 21,120 shares of the technology company's stock worth $114,000 after acquiring an additional 4,000 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Ultralife by 1.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 446,250 shares of the technology company's stock worth $4,007,000 after acquiring an additional 5,000 shares during the period. Finally, Lazard Asset Management LLC lifted its position in shares of 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 acquiring an additional 5,247 shares during the period. Institutional investors own 30.68% of the company's stock.

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.

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