Short Interest in Ultralife Co. (NASDAQ:ULBI) Decreases By 18.1%

Ultralife Co. (NASDAQ:ULBI) saw a significant decline in short interest in March. As of March 31st, there was short interest totalling 105,600 shares, a decline of 18.1% from the March 15th total of 128,900 shares. Based on an average trading volume of 62,100 shares, the short-interest ratio is presently 1.7 days. Approximately 1.1% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ULBI. Benchmark upped their price objective on shares of Ultralife from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. StockNews.com downgraded shares of Ultralife from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 26th.

Institutional Trading of Ultralife

Hedge funds have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Ultralife in the 3rd quarter valued at $36,000. Citigroup Inc. bought a new stake in Ultralife in the 3rd quarter valued at $74,000. Victory Capital Management Inc. bought a new stake in Ultralife in the 4th quarter valued at $59,000. Virtu Financial LLC bought a new stake in Ultralife in the 4th quarter valued at $72,000. Finally, Algert Global LLC bought a new stake in Ultralife in the 3rd quarter valued at $106,000. 30.68% of the stock is owned by institutional investors.

Ultralife Price Performance

NASDAQ ULBI opened at $8.96 on Friday. The company has a current ratio of 3.80, a quick ratio of 2.02 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $8.91 and a 200 day simple moving average of $8.27. The company has a market cap of $147.39 million, a P/E ratio of 20.36 and a beta of 1.26. Ultralife has a 1 year low of $3.92 and a 1 year high of $11.85.

Ultralife (NASDAQ:ULBI) last issued its quarterly earnings results on Thursday, February 15th. The technology company reported $0.18 earnings per share for the quarter. Ultralife had a net margin of 4.54% and a return on equity of 7.36%. The firm had revenue of $44.55 million during the quarter.

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.