Ultralife (NASDAQ:ULBI) Stock Rating Lowered by Wall Street Zen

Ultralife (NASDAQ:ULBI) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “hold” rating in a research note issued on Saturday.

Ultralife Stock Down 1.4%

Shares of ULBI stock opened at $6.85 on Friday. The stock’s fifty day moving average price is $7.64 and its 200 day moving average price is $6.55. Ultralife has a 1-year low of $4.07 and a 1-year high of $10.09. The company has a market cap of $114.01 million, a price-to-earnings ratio of 36.05 and a beta of 1.08. 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 announced its earnings results on Thursday, August 7th. The technology company reported $0.07 earnings per share (EPS) 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 business had revenue of $48.56 million for the quarter, compared to analyst estimates of $51.00 million.

Insider Transactions at Ultralife

In other Ultralife news, Director Bradford T. Whitmore bought 29,766 shares of Ultralife stock in a transaction that occurred on Thursday, August 21st. The shares were bought at an average cost of $6.63 per share, with a total value of $197,348.58. Following the transaction, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders bought 58,664 shares of company stock worth $387,049. Corporate insiders own 40.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC lifted its position in Ultralife by 1,650.0% during the 2nd quarter. Lazard Asset Management LLC now owns 5,565 shares of the technology company’s stock worth $49,000 after acquiring an additional 5,247 shares during the period. IFP Advisors Inc lifted its position 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 period. Jones Financial Companies Lllp lifted its position 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 period. Bank of America Corp DE lifted its position in Ultralife by 30.7% during the 4th quarter. Bank of America Corp DE now owns 12,067 shares of the technology company’s stock worth $90,000 after acquiring an additional 2,836 shares during the period. Finally, Pitti Group Wealth Management LLC lifted its position in Ultralife by 23.4% during the 1st quarter. Pitti Group Wealth Management LLC now owns 21,120 shares of the technology company’s stock worth $114,000 after acquiring an additional 4,000 shares during the period. 30.68% of the stock is owned by institutional investors and hedge funds.

Ultralife Company Profile

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.