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

Wall Street Zen upgraded shares of Ultralife (NASDAQ:ULBI - Free Report) from a buy rating to a strong-buy rating in a research report report published on Friday.

Ultralife Stock Performance

ULBI traded up $0.17 during midday trading on Friday, hitting $7.87. 108,236 shares of the company were exchanged, compared to its average volume of 71,897. The company's 50 day simple moving average is $5.26 and its 200 day simple moving average is $6.40. The firm has a market capitalization of $130.90 million, a price-to-earnings ratio of 14.31 and a beta of 0.90. Ultralife has a 1-year low of $4.07 and a 1-year high of $12.40. The company has a current ratio of 3.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.04.

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

Insider Activity

In other Ultralife news, Director Bradford T. Whitmore purchased 16,063 shares of the stock in a transaction on Wednesday, May 14th. The shares were bought at an average price of $5.47 per share, for a total transaction of $87,864.61. Following the completion of the transaction, the director now owns 1,045,947 shares of the company's stock, valued at $5,721,330.09. This trade represents a 1.56% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thomas Louis Saeli acquired 5,000 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was acquired at an average cost of $5.44 per share, for a total transaction of $27,200.00. Following the completion of the acquisition, the director now owns 85,000 shares of the company's stock, valued at $462,400. This trade represents a 6.25% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 47,140 shares of company stock valued at $256,355 in the last three months. 40.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ultralife

Several institutional investors and hedge funds have recently added to or reduced their stakes in ULBI. Visionary Wealth Advisors lifted its holdings in Ultralife by 17.1% during the fourth quarter. Visionary Wealth Advisors now owns 1,292,836 shares of the technology company's stock valued at $9,632,000 after purchasing an additional 188,384 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Ultralife by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,053,613 shares of the technology company's stock worth $7,849,000 after purchasing an additional 7,174 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Ultralife by 11.6% in the 4th quarter. Renaissance Technologies LLC now owns 256,090 shares of the technology company's stock valued at $1,908,000 after buying an additional 26,700 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted 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 worth $1,327,000 after buying an additional 20,840 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Ultralife by 8.0% during the 4th 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. Hedge funds and other 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.