Ultralife Co. (NASDAQ:ULBI) Sees Large Growth in Short Interest

Ultralife Co. (NASDAQ:ULBI - Get Free Report) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 286,400 shares, an increase of 32.8% from the February 13th total of 215,600 shares. Approximately 2.8% of the shares of the company are short sold. Based on an average daily trading volume, of 51,000 shares, the short-interest ratio is presently 5.6 days.

Ultralife Stock Performance

Shares of Ultralife stock traded down $0.16 during trading hours on Thursday, reaching $5.51. The company's stock had a trading volume of 36,623 shares, compared to its average volume of 73,942. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.62 and a current ratio of 3.30. Ultralife has a one year low of $5.31 and a one year high of $13.39. The company's 50 day simple moving average is $6.98 and its 200 day simple moving average is $7.92. The stock has a market cap of $91.61 million, a P/E ratio of 10.02 and a beta of 1.05.

Hedge Funds Weigh In On Ultralife

Hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc bought a new stake in shares of Ultralife in the 4th quarter worth approximately $85,000. Bank of America Corp DE boosted its holdings in shares of Ultralife by 30.7% during the fourth quarter. Bank of America Corp DE now owns 12,067 shares of the technology company's stock valued at $90,000 after acquiring an additional 2,836 shares during the period. Barclays PLC grew its position in shares of Ultralife by 13.7% during the fourth quarter. Barclays PLC now owns 15,233 shares of the technology company's stock worth $113,000 after acquiring an additional 1,838 shares during the last quarter. LSV Asset Management acquired a new stake in shares of Ultralife in the 4th quarter worth about $145,000. Finally, Nuveen Asset Management LLC lifted its position in Ultralife by 59.1% in the 4th quarter. Nuveen Asset Management LLC now owns 21,647 shares of the technology company's stock valued at $161,000 after purchasing an additional 8,037 shares during the last quarter. 30.68% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Separately, StockNews.com downgraded Ultralife from a "buy" rating to a "hold" rating in a report on Tuesday.

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.