Insider Buying: Ultralife Co. (NASDAQ:ULBI) CEO Acquires $10,875.00 in Stock

Ultralife Co. (NASDAQ:ULBI) CEO Michael Edward Manna purchased 1,500 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were acquired at an average price of $7.25 per share, with a total value of $10,875.00. Following the transaction, the chief executive officer now owns 19,874 shares in the company, valued at approximately $144,086.50. The trade was a 8.16 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ultralife Stock Performance

NASDAQ:ULBI opened at $7.63 on Friday. The business has a 50 day moving average of $8.77 and a 200 day moving average of $10.08. The company has a market capitalization of $126.89 million, a price-to-earnings ratio of 13.87 and a beta of 0.98. Ultralife Co. has a 1-year low of $6.36 and a 1-year high of $13.39. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.30 and a quick ratio of 1.62.

Analysts Set New Price Targets

ULBI has been the subject of a number of research analyst reports. Benchmark reiterated a “buy” rating and set a $14.00 price target on shares of Ultralife in a research report on Friday, November 15th. StockNews.com downgraded Ultralife from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 3rd.

Institutional Trading of Ultralife

A number of hedge funds have recently bought and sold shares of the company. Barclays PLC lifted its position in Ultralife by 21.3% in the 3rd quarter. Barclays PLC now owns 13,395 shares of the technology company’s stock worth $121,000 after buying an additional 2,355 shares during the last quarter. Geode Capital Management LLC lifted its position in Ultralife by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 232,681 shares of the technology company’s stock worth $2,104,000 after buying an additional 2,835 shares during the last quarter. Jane Street Group LLC bought a new stake in Ultralife in the 3rd quarter worth approximately $166,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Ultralife by 15.5% in 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 buying an additional 21,140 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Ultralife by 2.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 443,150 shares of the technology company’s stock worth $4,006,000 after buying an additional 10,450 shares during the last quarter. Institutional investors own 30.68% of the company’s stock.

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.