Short Interest in Ultralife Co. (NASDAQ:ULBI) Decreases By 38.1%

Ultralife Co. (NASDAQ:ULBI) was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 65,400 shares, a decline of 38.1% from the March 31st total of 105,600 shares. Based on an average trading volume of 59,000 shares, the short-interest ratio is presently 1.1 days. Approximately 0.7% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Benchmark boosted their price target on Ultralife from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. StockNews.com raised shares of Ultralife from a “buy” rating to a “strong-buy” rating in a report on Wednesday.

Ultralife Stock Performance

NASDAQ ULBI opened at $11.39 on Friday. The company has a market capitalization of $187.38 million, a price-to-earnings ratio of 17.80 and a beta of 1.26. The company has a quick ratio of 2.02, a current ratio of 3.80 and a debt-to-equity ratio of 0.19. Ultralife has a twelve month low of $3.92 and a twelve month high of $11.85. The stock has a fifty day simple moving average of $9.20 and a 200 day simple moving average of $8.21.

Ultralife (NASDAQ:ULBI) last released its quarterly earnings results on Thursday, February 15th. The technology company reported $0.18 EPS for the quarter. Ultralife had a return on equity of 10.45% and a net margin of 6.19%. The firm had revenue of $44.55 million for the quarter.

Institutional Trading of Ultralife

Several institutional investors have recently added to or reduced their stakes in ULBI. Acadian Asset Management LLC acquired a new position in shares of Ultralife in the 3rd quarter worth approximately $1,039,000. Citigroup Inc. acquired a new position in Ultralife in the third quarter valued at $74,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Ultralife during the third quarter valued at $36,000. Jump Financial LLC acquired a new stake in Ultralife during the 3rd quarter worth about $118,000. Finally, ClariVest Asset Management LLC acquired a new stake in Ultralife during the 3rd quarter worth about $616,000. 30.68% of the stock is currently 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.