Ultralife Co. (NASDAQ:ULBI) Sees Significant Increase in Short Interest

Ultralife Co. (NASDAQ:ULBI) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 123,100 shares, a growth of 43.0% from the August 15th total of 86,100 shares. Based on an average daily trading volume, of 235,800 shares, the days-to-cover ratio is currently 0.5 days. Approximately 1.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC boosted its stake in shares of Ultralife by 9.6% in the 2nd quarter. Renaissance Technologies LLC now owns 193,690 shares of the technology company’s stock valued at $937,000 after purchasing an additional 17,000 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Ultralife by 2.0% in the 2nd quarter. BlackRock Inc. now owns 145,230 shares of the technology company’s stock valued at $703,000 after purchasing an additional 2,873 shares during the last quarter. Visionary Wealth Advisors boosted its stake in shares of Ultralife by 1.7% in the 2nd quarter. Visionary Wealth Advisors now owns 1,065,179 shares of the technology company’s stock valued at $5,155,000 after purchasing an additional 17,510 shares during the last quarter. Northern Trust Corp raised its position in shares of Ultralife by 7.2% in the 2nd quarter. Northern Trust Corp now owns 23,590 shares of the technology company’s stock valued at $114,000 after acquiring an additional 1,592 shares during the period. Finally, EA Series Trust acquired a new stake in shares of Ultralife in the 2nd quarter valued at approximately $119,000. Institutional investors own 25.84% of the company’s stock.

Ultralife Stock Up 2.2 %

Shares of NASDAQ:ULBI opened at $10.35 on Friday. Ultralife has a 12 month low of $3.67 and a 12 month high of $10.75. The company’s 50-day moving average price is $7.99 and its two-hundred day moving average price is $5.59. The company has a quick ratio of 1.43, a current ratio of 3.01 and a debt-to-equity ratio of 0.19. The firm has a market cap of $167.16 million, a P/E ratio of 60.88 and a beta of 1.37.

Ultralife (NASDAQ:ULBI) last issued its quarterly earnings data on Thursday, July 27th. The technology company reported $0.29 EPS for the quarter. Ultralife had a net margin of 1.76% and a return on equity of 3.92%. The firm had revenue of $42.69 million for the quarter.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. TheStreet raised shares of Ultralife from a “d+” rating to a “c-” rating in a report on Wednesday, July 12th. StockNews.com lowered shares of Ultralife from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, Benchmark reaffirmed a “buy” rating and issued a $12.00 target price on shares of Ultralife in a report on Tuesday, August 8th.

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.