ValuEngine downgraded shares of Ultralife (NASDAQ:ULBI) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, ValuEngine reports.
NASDAQ:ULBI traded down $0.12 during trading hours on Thursday, hitting $7.31. 14,100 shares of the stock traded hands, compared to its average volume of 13,208. The firm has a 50 day moving average price of $7.62 and a 200 day moving average price of $8.32. The company has a current ratio of 3.78, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. Ultralife has a fifty-two week low of $6.99 and a fifty-two week high of $11.97. The firm has a market cap of $114.49 million, a price-to-earnings ratio of 4.85 and a beta of 0.86.
Ultralife (NASDAQ:ULBI) last announced its earnings results on Thursday, October 31st. The technology company reported $0.07 earnings per share (EPS) for the quarter. Ultralife had a net margin of 24.12% and a return on equity of 22.91%. The company had revenue of $27.49 million for the quarter.
Large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its stake in Ultralife by 57.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 669,751 shares of the technology company’s stock valued at $5,799,000 after purchasing an additional 244,879 shares during the period. Vanguard Group Inc. raised its stake in Ultralife by 3.7% during the 2nd quarter. Vanguard Group Inc. now owns 511,044 shares of the technology company’s stock valued at $4,063,000 after purchasing an additional 18,169 shares during the period. Teton Advisors Inc. raised its stake in Ultralife by 12.7% during the 3rd quarter. Teton Advisors Inc. now owns 142,200 shares of the technology company’s stock valued at $1,231,000 after purchasing an additional 16,000 shares during the period. Wells Fargo & Company MN acquired a new stake in Ultralife during the 2nd quarter valued at $54,000. Finally, BlackRock Inc. raised its stake in Ultralife by 439.9% during the 2nd quarter. BlackRock Inc. now owns 168,137 shares of the technology company’s stock valued at $1,336,000 after purchasing an additional 136,995 shares during the period. 32.99% of the stock is currently owned by institutional investors.
Ultralife Corporation designs, manufactures, installs, and maintains power, and communication and electronic systems for government, defense, and commercial sectors 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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