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 issued on Tuesday.

Ultralife Price Performance

Shares of ULBI traded down $0.17 during mid-day trading on Tuesday, hitting $5.58. 48,250 shares of the company traded hands, compared to its average volume of 74,128. Ultralife has a one year low of $5.31 and a one year 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. The business has a 50-day moving average of $7.01 and a 200 day moving average of $7.94. The stock has a market capitalization of $92.78 million, a price-to-earnings ratio of 10.15 and a beta of 1.05.

Institutional Trading of Ultralife

Several hedge funds have recently modified their holdings of the stock. Barclays PLC grew its stake in shares of Ultralife by 13.7% during the fourth quarter. Barclays PLC now owns 15,233 shares of the technology company’s stock valued at $113,000 after purchasing an additional 1,838 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Ultralife by 1.2% in the third quarter. Geode Capital Management LLC now owns 232,681 shares of the technology company’s stock valued at $2,104,000 after buying an additional 2,835 shares during the period. Bank of America Corp DE lifted its holdings in Ultralife by 30.7% in the fourth quarter. Bank of America Corp DE now owns 12,067 shares of the technology company’s stock valued at $90,000 after buying an additional 2,836 shares during the period. Marshall Wace LLP lifted its holdings in Ultralife by 11.6% in the fourth quarter. Marshall Wace LLP now owns 32,885 shares of the technology company’s stock valued at $245,000 after buying an additional 3,426 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in Ultralife by 0.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 447,000 shares of the technology company’s stock valued at $3,330,000 after buying an additional 3,850 shares during the period. 30.68% of the stock is owned by institutional investors.

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.