Ultralife (NASDAQ:ULBI) Upgraded to "Buy" at Wall Street Zen

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

Ultralife Trading Up 10.3%

Shares of NASDAQ:ULBI traded up $0.56 during midday trading on Thursday, hitting $6.02. 79,272 shares of the stock were exchanged, compared to its average volume of 69,694. The stock has a market capitalization of $100.13 million, a price-to-earnings ratio of 10.95 and a beta of 0.77. 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 business's 50-day moving average price is $4.91 and its 200 day moving average price is $6.43. Ultralife has a 12 month low of $4.07 and a 12 month high of $12.40.

Ultralife (NASDAQ:ULBI - Get Free Report) last released its quarterly 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). The firm had revenue of $50.75 million for the quarter, compared to the consensus estimate of $54.50 million. Ultralife had a return on equity of 7.92% and a net margin of 5.44%. During the same quarter last year, the firm posted $0.21 earnings per share.

Insider Transactions at Ultralife

In related news, Director Bradford T. Whitmore bought 8,957 shares of Ultralife stock in a transaction that occurred on Tuesday, May 13th. The shares were 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 directly owns 1,029,884 shares of the company's stock, valued at approximately $5,561,373.60. The trade was a 0.88% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas Louis Saeli bought 5,000 shares of Ultralife stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average price of $5.44 per share, for a total transaction of $27,200.00. Following the completion of the acquisition, the director now directly owns 85,000 shares of the company's stock, valued at $462,400. The trade was a 6.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 35,160 shares of company stock worth $191,543. Insiders own 39.90% of the company's stock.

Institutional Trading of Ultralife

Several institutional investors have recently added to or reduced their stakes in ULBI. Visionary Wealth Advisors boosted its holdings in Ultralife by 17.1% in the fourth quarter. Visionary Wealth Advisors now owns 1,292,836 shares of the technology company's stock valued at $9,632,000 after acquiring an additional 188,384 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Ultralife in the fourth quarter valued at approximately $522,000. JPMorgan Chase & Co. lifted its stake in Ultralife by 250.8% in the third quarter. JPMorgan Chase & Co. now owns 47,458 shares of the technology company's stock valued at $429,000 after buying an additional 33,929 shares during the period. Renaissance Technologies LLC lifted its stake in Ultralife by 11.6% in the fourth 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 during the period. Finally, Nuveen LLC acquired a new position in Ultralife in the first quarter valued at approximately $116,000. 30.68% of the stock is currently owned by 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.