Ultralife Co. (NASDAQ:ULBI) Short Interest Down 38.1% in April

Ultralife Co. (NASDAQ:ULBI) saw a significant drop in short interest in April. As of April 15th, there was short interest totalling 65,400 shares, a drop of 38.1% from the March 31st total of 105,600 shares. Based on an average daily volume of 59,000 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.7% of the company’s stock are sold short.

Institutional Trading of Ultralife

Several institutional investors have recently bought and sold shares of ULBI. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Ultralife in the 3rd quarter valued at $36,000. Victory Capital Management Inc. acquired a new stake in shares of Ultralife in the fourth quarter valued at about $59,000. Citigroup Inc. purchased a new stake in shares of Ultralife during the third quarter worth about $74,000. Algert Global LLC acquired a new position in shares of Ultralife during the 3rd quarter worth about $106,000. Finally, Jump Financial LLC acquired a new position in shares of Ultralife during the 3rd quarter worth about $118,000. 30.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Benchmark boosted their target price on shares of Ultralife from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. StockNews.com upgraded shares of Ultralife from a “buy” rating to a “strong-buy” rating in a research note on Wednesday.

Ultralife Price Performance

Shares of ULBI opened at $11.39 on Friday. The firm has a market capitalization of $187.37 million, a PE ratio of 17.80 and a beta of 1.26. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.80 and a quick ratio of 2.02. The company’s fifty day moving average price is $9.16 and its 200-day moving average price is $8.20. Ultralife has a 1-year low of $3.92 and a 1-year high of $11.85.

Ultralife (NASDAQ:ULBI) last released its earnings results on Thursday, February 15th. The technology company reported $0.18 EPS for the quarter. Ultralife had a return on equity of 10.45% and a net margin of 6.19%. The firm had revenue of $44.55 million during the quarter.

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.