StockNews.com lowered shares of Ultralife (NASDAQ:ULBI - Free Report) from a buy rating to a hold rating in a research note published on Tuesday morning.
Ultralife Stock Down 0.7 %
ULBI traded down $0.04 on Tuesday, hitting $5.47. 63,487 shares of the company were exchanged, compared to its average volume of 74,289. The company has a current ratio of 3.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.04. The company has a market cap of $90.95 million, a price-to-earnings ratio of 9.95 and a beta of 1.05. The firm has a 50-day moving average price of $6.90 and a two-hundred day moving average price of $7.86. Ultralife has a twelve month low of $5.31 and a twelve month high of $13.39.
Institutional Investors Weigh In On Ultralife
A number of large investors have recently modified their holdings of the company. Visionary Wealth Advisors increased its holdings in Ultralife by 17.1% in the fourth quarter. Visionary Wealth Advisors now owns 1,292,836 shares of the technology company's stock valued at $9,632,000 after buying an additional 188,384 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Ultralife by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,053,613 shares of the technology company's stock valued at $7,849,000 after acquiring an additional 7,174 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Ultralife by 0.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 447,000 shares of the technology company's stock worth $3,330,000 after acquiring an additional 3,850 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Ultralife by 11.6% during the fourth quarter. Renaissance Technologies LLC now owns 256,090 shares of the technology company's stock worth $1,908,000 after purchasing an additional 26,700 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Ultralife by 1.2% during the third quarter. Geode Capital Management LLC now owns 232,681 shares of the technology company's stock worth $2,104,000 after purchasing an additional 2,835 shares during the last quarter. 30.68% of the stock is owned by hedge funds and other institutional investors.
About Ultralife
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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.
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