Ultralife Co. (NASDAQ:ULBI) Sees Large Decline in Short Interest

Ultralife Co. (NASDAQ:ULBI) was the recipient of a large decline in short interest in March. As of March 31st, there was short interest totalling 105,600 shares, a decline of 18.1% from the March 15th total of 128,900 shares. Based on an average daily volume of 62,100 shares, the short-interest ratio is presently 1.7 days. Approximately 1.1% of the company’s shares are sold short.

Ultralife Price Performance

Shares of NASDAQ:ULBI opened at $8.96 on Monday. The business has a fifty day simple moving average of $8.91 and a 200 day simple moving average of $8.26. The company has a current ratio of 3.80, a quick ratio of 2.02 and a debt-to-equity ratio of 0.19. Ultralife has a 1 year low of $3.92 and a 1 year high of $11.85. The firm has a market cap of $147.40 million, a price-to-earnings ratio of 20.36 and a beta of 1.26.

Ultralife (NASDAQ:ULBI) last announced its quarterly earnings results on Thursday, February 15th. The technology company reported $0.18 earnings per share (EPS) for the quarter. The business had revenue of $44.55 million during the quarter. Ultralife had a return on equity of 7.36% and a net margin of 4.54%.

Institutional Trading of Ultralife

Institutional investors have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Ultralife during the 3rd quarter valued at $36,000. Victory Capital Management Inc. acquired a new position in Ultralife during the fourth quarter worth $59,000. Virtu Financial LLC bought a new position in Ultralife during the fourth quarter valued at about $72,000. Citigroup Inc. acquired a new stake in shares of Ultralife in the third quarter worth about $74,000. Finally, Perritt Capital Management Inc. bought a new stake in shares of Ultralife during the 4th quarter worth about $82,000. 30.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ULBI has been the subject of a number of research reports. StockNews.com lowered Ultralife from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 26th. Benchmark raised their price target on shares of Ultralife from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th.

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.