Wall Street Zen Upgrades Ultralife (NASDAQ:ULBI) to “Buy”

Wall Street Zen upgraded shares of Ultralife (NASDAQ:ULBI) from a hold rating to a buy rating in a report issued on Thursday.

Ultralife Price Performance

Shares of NASDAQ ULBI opened at $5.53 on Thursday. The company has a quick ratio of 1.62, a current ratio of 3.30 and a debt-to-equity ratio of 0.04. Ultralife has a fifty-two week low of $4.07 and a fifty-two week high of $12.40. The business has a 50 day moving average price of $4.92 and a two-hundred day moving average price of $6.52. The firm has a market cap of $91.98 million, a PE ratio of 10.05 and a beta of 0.77.

Ultralife (NASDAQ:ULBI) last released its quarterly earnings results on Friday, May 9th. The technology company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). The company had revenue of $50.75 million for the quarter, compared to analyst estimates of $54.50 million. Ultralife had a return on equity of 7.92% and a net margin of 5.44%. During the same period in the previous year, the business posted $0.21 EPS.

Insiders Place Their Bets

In other news, Director Bradford T. Whitmore acquired 8,957 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were purchased at an average price of $5.40 per share, for a total transaction of $48,367.80. Following the completion of the purchase, the director now directly owns 1,029,884 shares of the company’s stock, valued at $5,561,373.60. This represents a 0.88% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas Louis Saeli bought 5,000 shares of Ultralife stock in a transaction on Wednesday, May 14th. The shares were purchased at an average cost of $5.44 per share, for a total transaction of $27,200.00. Following the acquisition, the director now owns 85,000 shares in the company, 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. Insiders purchased a total of 35,160 shares of company stock valued at $191,543 in the last ninety days. Corporate insiders own 39.90% of the company’s stock.

Hedge Funds Weigh In On Ultralife

Several large investors have recently added to or reduced their stakes in ULBI. Visionary Wealth Advisors increased its stake 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 during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Ultralife in the 4th quarter valued at about $522,000. JPMorgan Chase & Co. grew its position in shares of Ultralife by 250.8% during the 3rd 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 last quarter. Renaissance Technologies LLC grew its position in shares of Ultralife by 11.6% during 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 during the last quarter. Finally, Nuveen LLC acquired a new stake in Ultralife during the first quarter worth about $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.