IFP Advisors Inc Increases Stock Holdings in Ultralife Corporation (NASDAQ:ULBI)

IFP Advisors Inc boosted its position in Ultralife Corporation (NASDAQ:ULBI) by 24.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,200 shares of the technology company’s stock after purchasing an additional 2,800 shares during the period. IFP Advisors Inc owned about 0.09% of Ultralife worth $76,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Pitti Group Wealth Management LLC boosted its position in Ultralife by 23.4% in the first quarter. Pitti Group Wealth Management LLC now owns 21,120 shares of the technology company’s stock worth $114,000 after purchasing an additional 4,000 shares during the last quarter. Visionary Wealth Advisors boosted its position in Ultralife by 17.1% in the fourth quarter. Visionary Wealth Advisors now owns 1,292,836 shares of the technology company’s stock worth $9,632,000 after purchasing an additional 188,384 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Ultralife by 47.1% in the fourth quarter. Squarepoint Ops LLC now owns 42,261 shares of the technology company’s stock worth $315,000 after buying an additional 13,538 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Ultralife by 59.1% in the fourth quarter. Nuveen Asset Management LLC now owns 21,647 shares of the technology company’s stock worth $161,000 after buying an additional 8,037 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Ultralife by 30.7% in the fourth quarter. Bank of America Corp DE now owns 12,067 shares of the technology company’s stock worth $90,000 after buying an additional 2,836 shares during the period. 30.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Ultralife from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 6th.

Insider Activity

In other Ultralife news, Director Thomas Louis Saeli bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were bought at an average price of $5.44 per share, with a total value of $27,200.00. Following the purchase, the director owned 85,000 shares of the company’s stock, valued at $462,400. This trade represents a 6.25% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bradford T. Whitmore bought 16,063 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average cost of $5.47 per share, for a total transaction of $87,864.61. Following the purchase, the director directly owned 1,045,947 shares in the company, valued at $5,721,330.09. This trade represents a 1.56% increase in their position. The disclosure for this purchase can be found here. Insiders bought 47,140 shares of company stock worth $256,355 in the last ninety days. Corporate insiders own 40.00% of the company’s stock.

Ultralife Stock Down 4.3%

NASDAQ ULBI opened at $8.21 on Thursday. The stock’s 50-day moving average price is $7.97 and its 200-day moving average price is $6.64. The company has a quick ratio of 1.70, a current ratio of 3.22 and a debt-to-equity ratio of 0.37. Ultralife Corporation has a 52 week low of $4.07 and a 52 week high of $12.40. The company has a market capitalization of $136.53 million, a P/E ratio of 25.66 and a beta of 1.00.

Ultralife (NASDAQ:ULBI) last posted its quarterly earnings data on Friday, May 9th. The technology company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02). Ultralife had a return on equity of 4.61% and a net margin of 3.05%. The company had revenue of $50.75 million during the quarter, compared to the consensus estimate of $54.50 million. During the same period last year, the business earned $0.21 EPS.

About Ultralife

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.