Janney Montgomery Scott LLC Has $4.01 Million Stock Position in Ultralife Corporation $ULBI

Janney Montgomery Scott LLC boosted its stake in shares of Ultralife Corporation (NASDAQ:ULBI) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 446,250 shares of the technology company’s stock after acquiring an additional 5,000 shares during the quarter. Janney Montgomery Scott LLC owned approximately 2.68% of Ultralife worth $4,007,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its holdings in Ultralife by 24.6% during the 1st quarter. IFP Advisors Inc now owns 14,200 shares of the technology company’s stock worth $76,000 after acquiring an additional 2,800 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Ultralife by 1,428.7% during the 1st quarter. Jones Financial Companies Lllp now owns 15,287 shares of the technology company’s stock worth $82,000 after acquiring an additional 14,287 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Ultralife by 30.7% in the 4th quarter. Bank of America Corp DE now owns 12,067 shares of the technology company’s stock valued at $90,000 after purchasing an additional 2,836 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Ultralife in the 1st quarter valued at about $116,000. Institutional investors own 30.68% of the company’s stock.

Insiders Place Their Bets

In related news, Director Bradford T. Whitmore bought 29,766 shares of the company’s stock in a transaction on Thursday, August 21st. The shares were purchased at an average cost of $6.63 per share, for a total transaction of $197,348.58. Following the acquisition, the director owned 1,128,731 shares of the company’s stock, valued at approximately $7,483,486.53. This represents a 2.71% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have purchased 58,664 shares of company stock worth $387,049. 40.00% of the stock is owned by company insiders.

Ultralife Stock Down 5.5%

Ultralife stock opened at $6.69 on Wednesday. The company’s 50 day simple moving average is $7.00 and its 200 day simple moving average is $6.68. Ultralife Corporation has a fifty-two week low of $4.07 and a fifty-two week high of $9.61. The firm has a market capitalization of $111.32 million, a price-to-earnings ratio of 35.21 and a beta of 1.06. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.31 and a quick ratio of 1.62.

Ultralife (NASDAQ:ULBI) last released its quarterly earnings data 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 return on equity of 2.68% and a net margin of 1.79%.The firm had revenue of $48.56 million for the quarter, compared to the consensus estimate of $51.00 million.

Analyst Upgrades and Downgrades

ULBI has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ultralife in a research note on Saturday, September 27th. Wall Street Zen lowered shares of Ultralife from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

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.