Pitti Group Wealth Management LLC Acquires 4,000 Shares of Ultralife Co. (NASDAQ:ULBI)

Pitti Group Wealth Management LLC boosted its holdings in shares of Ultralife Co. (NASDAQ:ULBI) by 23.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,120 shares of the technology company’s stock after buying an additional 4,000 shares during the quarter. Pitti Group Wealth Management LLC owned approximately 0.13% of Ultralife worth $114,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. IFP Advisors Inc bought a new position in shares of Ultralife during the 4th quarter worth approximately $85,000. Northern Trust Corp boosted its position in Ultralife by 8.0% during the fourth quarter. Northern Trust Corp now owns 87,633 shares of the technology company’s stock worth $653,000 after purchasing an additional 6,484 shares during the period. Barclays PLC increased its holdings in shares of Ultralife by 13.7% in the fourth quarter. Barclays PLC now owns 15,233 shares of the technology company’s stock valued at $113,000 after purchasing an additional 1,838 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Ultralife by 13.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 178,170 shares of the technology company’s stock valued at $1,327,000 after purchasing an additional 20,840 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Ultralife in the fourth quarter valued at about $522,000. Institutional investors own 30.68% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Ultralife from a “buy” rating to a “strong-buy” rating in a report on Friday.

Ultralife Price Performance

Ultralife stock opened at $7.70 on Friday. The company has a market capitalization of $128.07 million, a price-to-earnings ratio of 14.00 and a beta of 0.90. The company has a current ratio of 3.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.04. Ultralife Co. has a 12 month low of $4.07 and a 12 month high of $12.40. The stock’s 50 day moving average is $5.20 and its 200-day moving average is $6.41.

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

Insider Buying and Selling at Ultralife

In other Ultralife news, Director Thomas Louis Saeli acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was acquired at an average cost of $5.44 per share, for a total transaction of $27,200.00. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $462,400. This represents a 6.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bradford T. Whitmore bought 16,063 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was acquired at an average price of $5.47 per share, for a total transaction of $87,864.61. Following the transaction, the director now owns 1,045,947 shares of the company’s stock, valued at approximately $5,721,330.09. The trade was a 1.56% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 47,140 shares of company stock valued at $256,355. 40.00% of the stock is currently owned by corporate insiders.

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.