Ultralife (NASDAQ:ULBI) Stock Rating Upgraded by Wall Street Zen

Ultralife (NASDAQ:ULBI - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Friday.

Ultralife Stock Down 1.9%

NASDAQ ULBI traded down $0.15 during trading on Friday, reaching $7.70. 141,914 shares of the company's stock traded hands, compared to its average volume of 71,694. Ultralife has a 12-month low of $4.07 and a 12-month high of $12.40. The company's 50 day simple moving average is $5.20 and its two-hundred day simple moving average is $6.41. The firm has a market cap of $128.07 million, a price-to-earnings ratio of 14.00 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.30 and a quick ratio of 1.62.

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

Insider Buying and Selling

In other news, Director Thomas Louis Saeli acquired 5,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was acquired at an average price of $5.44 per share, for a total transaction of $27,200.00. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $462,400. The trade was a 6.25% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bradford T. Whitmore acquired 8,957 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was acquired at an average cost of $5.40 per share, for a total transaction of $48,367.80. Following the completion of the acquisition, the director now owns 1,029,884 shares of the company's stock, valued at $5,561,373.60. This trade represents a 0.88% increase in their position. The disclosure for this purchase can be found here. Insiders bought 47,140 shares of company stock worth $256,355 in the last 90 days. Insiders own 40.00% of the company's stock.

Hedge Funds Weigh In On Ultralife

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its stake in shares of Ultralife by 24.6% in the first 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 last quarter. Jones Financial Companies Lllp raised its position in shares of Ultralife by 1,428.7% during the 1st quarter. Jones Financial Companies Lllp now owns 15,287 shares of the technology company's stock valued at $82,000 after buying an additional 14,287 shares during the period. Bank of America Corp DE grew its holdings in shares of Ultralife by 30.7% during 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 during the period. Barclays PLC increased its position in shares of Ultralife by 13.7% during the fourth quarter. Barclays PLC now owns 15,233 shares of the technology company's stock valued at $113,000 after acquiring an additional 1,838 shares during the last quarter. Finally, Pitti Group Wealth Management LLC raised its position in Ultralife by 23.4% in the first quarter. Pitti Group Wealth Management LLC now owns 21,120 shares of the technology company's stock valued at $114,000 after purchasing an additional 4,000 shares during the period. 30.68% of the stock is owned by hedge funds and other institutional investors.

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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