Ultralife (NASDAQ:ULBI) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Ultralife (NASDAQ:ULBI) from a strong-buy rating to a hold rating in a research report sent to investors on Saturday.

Ultralife Price Performance

NASDAQ ULBI opened at $6.83 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.31 and a quick ratio of 1.62. The stock’s fifty day moving average price is $7.60 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 $113.65 million, a price-to-earnings ratio of 35.95 and a beta of 1.08.

Ultralife (NASDAQ:ULBI) last released 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 firm had revenue of $48.56 million during the quarter, compared to analyst estimates of $51.00 million.

Insider Activity

In other Ultralife news, Director Bradford T. Whitmore purchased 29,766 shares of the stock in a transaction 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 completion of the acquisition, the director owned 1,128,731 shares in the company, valued at $7,483,486.53. This trade represents a 2.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders acquired 58,664 shares of company stock valued at $387,049. 40.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ultralife

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ULBI. Lazard Asset Management LLC raised its position in Ultralife by 1,650.0% during the second quarter. Lazard Asset Management LLC now owns 5,565 shares of the technology company’s stock valued at $49,000 after acquiring an additional 5,247 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in Ultralife during the second quarter valued at approximately $331,000. Raymond James Financial Inc. raised its position in Ultralife by 14.5% during the second quarter. Raymond James Financial Inc. now owns 116,085 shares of the technology company’s stock valued at $1,042,000 after acquiring an additional 14,667 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in Ultralife during the second quarter valued at approximately $142,000. Finally, RBF Capital LLC purchased a new position in Ultralife during the second quarter valued at approximately $2,020,000. 30.68% of the stock is owned by institutional investors and hedge funds.

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.