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

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

Ultralife Stock Up 6.3 %

Shares of Ultralife stock opened at $11.39 on Monday. The business has a 50-day moving average of $9.20 and a 200-day moving average of $8.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.03 and a quick ratio of 2.16. The company has a market capitalization of $187.59 million, a PE ratio of 17.80 and a beta of 1.26. Ultralife has a 1-year low of $3.92 and a 1-year high of $11.85.

Ultralife (NASDAQ:ULBI) last announced its earnings results on Thursday, February 15th. The technology company reported $0.18 earnings per share for the quarter. The company had revenue of $44.55 million during the quarter. Ultralife had a return on equity of 10.31% and a net margin of 6.19%.

Analyst Ratings Changes

Several analysts recently issued reports on ULBI shares. StockNews.com upgraded Ultralife from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 24th. Benchmark raised their target price on Ultralife from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th.

Hedge Funds Weigh In On Ultralife

Large investors have recently modified their holdings of the stock. Acadian Asset Management LLC bought a new position in shares of Ultralife during the third quarter worth about $1,039,000. Citigroup Inc. bought a new position in shares of Ultralife during the third quarter worth about $74,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Ultralife during the third quarter worth about $36,000. Jump Financial LLC bought a new position in shares of Ultralife during the third quarter worth about $118,000. Finally, ClariVest Asset Management LLC bought a new position in shares of Ultralife during the third quarter worth about $616,000. Institutional investors own 30.68% of the company’s stock.

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.