Y Intercept Hong Kong Ltd Buys New Position in Ultralife Corporation $ULBI

Y Intercept Hong Kong Ltd bought a new position in Ultralife Corporation (NASDAQ:ULBI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 28,809 shares of the technology company’s stock, valued at approximately $259,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Janney Montgomery Scott LLC grew its position in shares of Ultralife by 1.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 446,250 shares of the technology company’s stock worth $4,007,000 after buying an additional 5,000 shares during the period. Nuveen LLC bought a new position in Ultralife during the first quarter worth $116,000. Jones Financial Companies Lllp grew its holdings in Ultralife by 1,428.7% in the first quarter. Jones Financial Companies Lllp now owns 15,287 shares of the technology company’s stock worth $82,000 after purchasing an additional 14,287 shares during the period. IFP Advisors Inc increased its stake in Ultralife by 24.6% in the first quarter. IFP Advisors Inc now owns 14,200 shares of the technology company’s stock valued at $76,000 after purchasing an additional 2,800 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Ultralife by 30.7% in the fourth quarter. Bank of America Corp DE now owns 12,067 shares of the technology company’s stock valued at $90,000 after purchasing an additional 2,836 shares in the last quarter. 30.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ULBI. Wall Street Zen cut shares of Ultralife from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ultralife in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Insider Buying and Selling at Ultralife

In related news, Director Bradford T. Whitmore bought 29,766 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were bought at an average price of $6.63 per share, for a total transaction of $197,348.58. Following the completion of the acquisition, the director directly owned 1,128,731 shares of the company’s stock, valued at $7,483,486.53. This trade represents a 2.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased a total of 58,664 shares of company stock valued at $387,049 in the last 90 days. 40.00% of the stock is owned by company insiders.

Ultralife Trading Down 1.7%

NASDAQ:ULBI opened at $6.75 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.31 and a quick ratio of 1.62. Ultralife Corporation has a one year low of $4.07 and a one year high of $9.52. The company has a market cap of $112.35 million, a PE ratio of 35.53 and a beta of 1.02. The firm has a 50-day moving average of $6.87 and a 200-day moving average of $7.03.

Ultralife (NASDAQ:ULBI) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.07). The business had revenue of $48.56 million during the quarter, compared to the consensus estimate of $51.00 million. Ultralife had a net margin of 1.79% and a return on equity of 2.68%.

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.