Two Sigma Investments LP Reduces Stake in Ultralife Co. (NASDAQ:ULBI)

Two Sigma Investments LP lessened its holdings in shares of Ultralife Co. (NASDAQ:ULBI) by 16.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 25,162 shares of the technology company’s stock after selling 4,831 shares during the period. Two Sigma Investments LP’s holdings in Ultralife were worth $187,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ULBI. IFP Advisors Inc purchased a new position in Ultralife in the fourth quarter valued at approximately $85,000. Bank of America Corp DE boosted its holdings 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 buying an additional 2,836 shares in the last quarter. Barclays PLC grew its position in shares of Ultralife by 13.7% in the 4th quarter. Barclays PLC now owns 15,233 shares of the technology company’s stock valued at $113,000 after buying an additional 1,838 shares during the last quarter. LSV Asset Management acquired a new stake in Ultralife during the 4th quarter worth $145,000. Finally, Nuveen Asset Management LLC raised its stake in Ultralife by 59.1% during the 4th quarter. Nuveen Asset Management LLC now owns 21,647 shares of the technology company’s stock worth $161,000 after acquiring an additional 8,037 shares in the last quarter. Hedge funds and other institutional investors own 30.68% of the company’s stock.

Insider Buying and Selling

In related news, Director Thomas Louis Saeli purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were purchased at an average price of $5.44 per share, with a total value of $27,200.00. Following the completion of the acquisition, the director now directly owns 85,000 shares in the company, valued at $462,400. This represents a 6.25% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bradford T. Whitmore purchased 8,957 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was bought at an average price of $5.40 per share, for a total transaction of $48,367.80. Following the transaction, the director now directly owns 1,029,884 shares in the company, valued at $5,561,373.60. This trade represents a 0.88% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 47,140 shares of company stock worth $256,355 in the last 90 days. Company insiders own 40.00% of the company’s stock.

Analysts Set New Price Targets

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

Ultralife Trading Up 5.1%

NASDAQ:ULBI opened at $7.83 on Friday. The company has a market capitalization of $130.24 million, a PE ratio of 14.24 and a beta of 0.90. Ultralife Co. has a 52-week low of $4.07 and a 52-week high of $12.40. The stock’s 50 day moving average price is $5.45 and its 200 day moving average price is $6.42. The company has a quick ratio of 1.62, a current ratio of 3.30 and a debt-to-equity ratio of 0.04.

Ultralife (NASDAQ:ULBI) last posted its quarterly earnings data on Friday, May 9th. The technology company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). The firm had revenue of $50.75 million during the quarter, compared to analyst estimates of $54.50 million. Ultralife had a net margin of 5.44% and a return on equity of 7.92%. During the same period in the previous year, the company posted $0.21 earnings per share.

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.