Ultralife Corporation $ULBI Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. cut its position in shares of Ultralife Corporation (NASDAQ:ULBI) by 43.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,354 shares of the technology company’s stock after selling 11,668 shares during the quarter. Goldman Sachs Group Inc. owned 0.09% of Ultralife worth $83,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in Ultralife by 30.7% during the fourth quarter. Bank of America Corp DE now owns 12,067 shares of the technology company’s stock worth $90,000 after purchasing an additional 2,836 shares during the last quarter. IFP Advisors Inc increased its position in Ultralife by 24.6% in the first quarter. IFP Advisors Inc now owns 14,200 shares of the technology company’s stock worth $76,000 after buying an additional 2,800 shares during the period. Jones Financial Companies Lllp increased its position in Ultralife by 1,428.7% in the first quarter. Jones Financial Companies Lllp now owns 15,287 shares of the technology company’s stock worth $82,000 after buying an additional 14,287 shares during the period. Pitti Group Wealth Management LLC increased 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 buying an additional 4,000 shares during the period. Finally, Nuveen LLC acquired a new stake in Ultralife in the first quarter worth $116,000. 30.68% of the stock is currently owned by institutional investors.

Ultralife Trading Down 0.1%

Shares of ULBI stock opened at $6.82 on Wednesday. The stock has a 50-day simple moving average of $7.19 and a 200 day simple moving average of $6.63. Ultralife Corporation has a fifty-two week low of $4.07 and a fifty-two week high of $10.09. The stock has a market capitalization of $113.48 million, a P/E ratio of 35.90 and a beta of 1.08. The company has a quick ratio of 1.62, a current ratio of 3.31 and a debt-to-equity ratio of 0.34.

Ultralife (NASDAQ:ULBI) last announced its earnings results on Thursday, August 7th. The technology company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.07). Ultralife had a net margin of 1.79% and a return on equity of 2.68%. The firm had revenue of $48.56 million for the quarter, compared to the consensus estimate of $51.00 million.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Ultralife from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $14.00.

Insiders Place Their Bets

In other news, Director Bradford T. Whitmore bought 29,766 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The stock was acquired at an average price of $6.63 per share, with a total value of $197,348.58. Following the completion of the purchase, the director directly owned 1,128,731 shares of the company’s stock, valued at $7,483,486.53. This represents a 2.71% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought a total of 58,664 shares of company stock worth $387,049 over the last ninety days. Company insiders own 40.00% of the company’s stock.

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.