Ultralife Co. (NASDAQ:ULBI) Short Interest Down 38.1% in April

Ultralife Co. (NASDAQ:ULBI) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 65,400 shares, a decline of 38.1% from the March 31st total of 105,600 shares. Based on an average daily trading volume, of 59,000 shares, the short-interest ratio is currently 1.1 days. Currently, 0.7% of the company’s stock are short sold.

Institutional Trading of Ultralife

Several institutional investors and hedge funds have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Ultralife in the 3rd quarter valued at about $36,000. LSV Asset Management increased its position in Ultralife by 32.0% in the 3rd quarter. LSV Asset Management now owns 16,900 shares of the technology company’s stock valued at $165,000 after acquiring an additional 4,100 shares during the period. Pitti Group Wealth Management LLC increased its position in Ultralife by 41.3% in the 4th quarter. Pitti Group Wealth Management LLC now owns 18,120 shares of the technology company’s stock valued at $124,000 after acquiring an additional 5,300 shares during the period. Visionary Wealth Advisors increased its position in Ultralife by 0.7% in the 3rd quarter. Visionary Wealth Advisors now owns 1,072,249 shares of the technology company’s stock valued at $10,465,000 after acquiring an additional 7,070 shares during the period. Finally, Citigroup Inc. acquired a new position in Ultralife in the 3rd quarter valued at about $74,000. 30.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. StockNews.com raised Ultralife from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 24th. Benchmark lifted their price target on Ultralife from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th.

Ultralife Stock Up 6.3 %

Ultralife stock opened at $11.39 on Monday. Ultralife has a fifty-two week low of $3.92 and a fifty-two week high of $11.85. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.16 and a current ratio of 4.03. The company has a market capitalization of $187.59 million, a P/E ratio of 17.80 and a beta of 1.26. The stock has a 50-day simple moving average of $9.20 and a 200-day simple moving average of $8.20.

Ultralife (NASDAQ:ULBI) last posted its earnings results on Thursday, February 15th. The technology company reported $0.18 earnings per share for the quarter. Ultralife had a return on equity of 10.31% and a net margin of 6.19%. The business 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.