Ultralife (NASDAQ:ULBI) Issues Earnings Results

Ultralife (NASDAQ:ULBI) posted its quarterly earnings results on Tuesday. The technology company reported ($0.07) earnings per share for the quarter, Zacks reports. Ultralife had a net margin of 1.79% and a return on equity of 2.68%.

Ultralife Stock Down 0.4%

Shares of ULBI stock opened at $5.54 on Tuesday. Ultralife has a twelve month low of $4.07 and a twelve month high of $9.52. The stock has a market cap of $92.21 million, a P/E ratio of 29.16 and a beta of 1.02. The stock has a 50 day moving average of $6.72 and a 200 day moving average of $7.10. The company has a current ratio of 3.31, a quick ratio of 1.62 and a debt-to-equity ratio of 0.34.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wall Street Zen cut Ultralife from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Ultralife in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

Insider Transactions at Ultralife

In other news, Director Bradford T. Whitmore purchased 29,766 shares of the company’s stock in a transaction that occurred on 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 transaction, the director owned 1,128,731 shares in the company, valued at $7,483,486.53. This represents a 2.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 40.00% of the company’s stock.

Institutional Investors Weigh In On Ultralife

Hedge funds have recently modified their holdings of the company. Susquehanna International Group LLP grew its position in shares of Ultralife by 100.7% during the 3rd quarter. Susquehanna International Group LLP now owns 27,670 shares of the technology company’s stock valued at $189,000 after acquiring an additional 13,882 shares during the period. Prelude Capital Management LLC purchased a new position in Ultralife during the third quarter worth approximately $71,000. Citadel Advisors LLC grew its holdings in Ultralife by 78.9% in the third quarter. Citadel Advisors LLC now owns 80,921 shares of the technology company’s stock valued at $552,000 after purchasing an additional 35,695 shares during the period. Bank of America Corp DE increased its position in shares of Ultralife by 39.9% in the third quarter. Bank of America Corp DE now owns 13,351 shares of the technology company’s stock valued at $91,000 after buying an additional 3,810 shares in the last quarter. Finally, Ancora Advisors LLC raised its stake in shares of Ultralife by 24.3% during the 3rd quarter. Ancora Advisors LLC now owns 105,321 shares of the technology company’s stock worth $718,000 after buying an additional 20,562 shares during the period. 30.68% of the stock is owned by hedge funds and other 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.