State Street Corp Cuts Position in Ultralife Co. (NASDAQ:ULBI)

State Street Corp lowered its position in shares of Ultralife Co. (NASDAQ:ULBI) by 4.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 117,587 shares of the technology company’s stock after selling 5,738 shares during the quarter. State Street Corp’s holdings in Ultralife were worth $1,063,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers grew its stake in Ultralife by 1,728.3% during the second quarter. Rhumbline Advisers now owns 11,811 shares of the technology company’s stock worth $125,000 after buying an additional 11,165 shares during the period. Juncture Wealth Strategies LLC acquired a new position in shares of Ultralife during the 3rd quarter valued at $165,000. XTX Topco Ltd boosted its position in Ultralife by 192.1% during the 2nd quarter. XTX Topco Ltd now owns 37,399 shares of the technology company’s stock worth $397,000 after purchasing an additional 24,595 shares during the period. Bank of New York Mellon Corp increased its holdings in Ultralife by 203.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 39,111 shares of the technology company’s stock valued at $415,000 after purchasing an additional 26,206 shares in the last quarter. Finally, ClariVest Asset Management LLC raised its position in Ultralife by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 66,657 shares of the technology company’s stock valued at $708,000 after purchasing an additional 1,864 shares during the period. Institutional investors and hedge funds own 30.68% of the company’s stock.

Ultralife Stock Performance

Ultralife stock opened at $7.39 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.30 and a quick ratio of 1.62. The firm’s fifty day moving average price is $7.84 and its 200 day moving average price is $9.29. The company has a market capitalization of $122.87 million, a price-to-earnings ratio of 13.44 and a beta of 0.95. Ultralife Co. has a 12-month low of $6.36 and a 12-month high of $13.39.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ULBI. StockNews.com downgraded Ultralife from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 3rd. Benchmark reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Ultralife in a research report on Friday, November 15th.

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.