StockNews.com Downgrades Ultralife (NASDAQ:ULBI) to Hold

Ultralife (NASDAQ:ULBI) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Ultralife Price Performance

NASDAQ ULBI traded down $0.17 on Tuesday, reaching $5.58. The company’s stock had a trading volume of 48,250 shares, compared to its average volume of 74,128. The firm has a market cap of $92.78 million, a PE ratio of 10.15 and a beta of 1.05. The business has a 50-day moving average price of $7.01 and a 200 day moving average price of $7.94. Ultralife has a 52 week low of $5.31 and a 52 week high of $13.39. The company has a current ratio of 3.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.04.

Institutional Trading of Ultralife

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in Ultralife by 250.8% in the third quarter. JPMorgan Chase & Co. now owns 47,458 shares of the technology company’s stock valued at $429,000 after acquiring an additional 33,929 shares during the period. Geode Capital Management LLC grew 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 buying an additional 2,835 shares during the last quarter. IFP Advisors Inc bought a new stake in Ultralife during the fourth quarter worth about $85,000. Janney Montgomery Scott LLC grew its stake in Ultralife by 0.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 447,000 shares of the technology company’s stock worth $3,330,000 after buying an additional 3,850 shares during the last quarter. Finally, Barclays PLC grew its stake in Ultralife by 21.3% during the third quarter. Barclays PLC now owns 13,395 shares of the technology company’s stock worth $121,000 after buying an additional 2,355 shares during the last quarter. Institutional investors own 30.68% of the company’s stock.

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.