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

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

Ultralife Price Performance

Shares of NASDAQ:ULBI opened at $5.67 on Tuesday. Ultralife has a twelve month low of $5.31 and a twelve month high of $13.39. The stock has a market capitalization of $94.28 million, a PE ratio of 10.31 and a beta of 1.05. The firm’s 50 day moving average price is $6.98 and its 200-day moving average price is $7.92. The company has a quick ratio of 1.62, a current ratio of 3.30 and a debt-to-equity ratio of 0.04.

Institutional Investors Weigh In On Ultralife

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ULBI. Connor Clark & Lunn Investment Management Ltd. raised its stake in Ultralife by 15.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 157,330 shares of the technology company’s stock worth $1,422,000 after acquiring an additional 21,140 shares during the period. Jane Street Group LLC purchased a new stake in Ultralife during the 3rd quarter valued at approximately $166,000. Barclays PLC grew its holdings in Ultralife by 21.3% during the 3rd quarter. Barclays PLC now owns 13,395 shares of the technology company’s stock valued at $121,000 after buying an additional 2,355 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 2,835 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of 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 purchasing an additional 33,929 shares in the last quarter. Institutional investors own 30.68% of the company’s stock.

Ultralife Company Profile

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.