Ultralife (NASDAQ:ULBI) Stock Rating Lowered 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.

Wall Street Zen downgraded shares of Ultralife (NASDAQ:ULBI - Free Report) from a strong-buy rating to a hold rating in a report released on Saturday morning.

Ultralife Stock Performance

NASDAQ ULBI traded up $0.30 during trading on Friday, hitting $7.14. 31,918 shares of the company's stock traded hands, compared to its average volume of 54,890. The stock has a market capitalization of $118.81 million, a price-to-earnings ratio of 37.58 and a beta of 1.08. Ultralife has a 12-month low of $4.07 and a 12-month high of $10.09. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.62 and a current ratio of 3.31. The business has a 50 day moving average of $7.49 and a 200-day moving average of $6.56.

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

Insider Buying and Selling

In other Ultralife news, Director Bradford T. Whitmore acquired 29,766 shares of the company's stock in a transaction on Thursday, August 21st. The shares were acquired at an average cost of $6.63 per share, with a total value of $197,348.58. Following the completion of the acquisition, the director directly owned 1,128,731 shares in the company, valued at $7,483,486.53. This trade represents a 2.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought 58,664 shares of company stock worth $387,049 over the last quarter. 40.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ultralife

A number of institutional investors and hedge funds have recently modified their holdings of ULBI. Northern Trust Corp lifted its holdings in shares of Ultralife by 8.0% in the fourth quarter. Northern Trust Corp now owns 87,633 shares of the technology company's stock worth $653,000 after buying an additional 6,484 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Ultralife by 30.7% in the fourth quarter. Bank of America Corp DE now owns 12,067 shares of the technology company's stock worth $90,000 after buying an additional 2,836 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Ultralife by 59.1% in the fourth quarter. Nuveen Asset Management LLC now owns 21,647 shares of the technology company's stock worth $161,000 after buying an additional 8,037 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Ultralife by 47.1% in the fourth quarter. Squarepoint Ops LLC now owns 42,261 shares of the technology company's stock worth $315,000 after buying an additional 13,538 shares in the last quarter. Finally, Visionary Wealth Advisors lifted its holdings in shares of Ultralife by 17.1% in the fourth quarter. Visionary Wealth Advisors now owns 1,292,836 shares of the technology company's stock worth $9,632,000 after buying an additional 188,384 shares in the last quarter. 30.68% of the stock is owned by hedge funds and other institutional investors.

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.