Ultralife Co. (NASDAQ:ULBI) Sees Significant Growth in Short Interest

Ultralife Co. (NASDAQ:ULBI) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 181,100 shares, an increase of 19.3% from the November 30th total of 151,800 shares. Based on an average daily volume of 65,200 shares, the short-interest ratio is currently 2.8 days. Currently, 1.8% of the company’s stock are sold short.

Ultralife Stock Performance

Ultralife stock traded down $0.04 during mid-day trading on Monday, reaching $7.25. 73,052 shares of the company traded hands, compared to its average volume of 76,944. The firm’s fifty day moving average is $7.95 and its two-hundred day moving average is $9.36. The company has a market capitalization of $120.55 million, a price-to-earnings ratio of 13.18 and a beta of 0.95. Ultralife has a fifty-two week low of $6.36 and a fifty-two week 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.

Institutional Trading of Ultralife

Large investors have recently made changes to their positions in the business. ClariVest Asset Management LLC raised its position in Ultralife by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 66,657 shares of the technology company’s stock worth $708,000 after acquiring an additional 1,864 shares during the period. Barclays PLC lifted its stake in Ultralife by 21.3% in 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 increased its stake in Ultralife by 1.2% during 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 in the last quarter. Acadian Asset Management LLC increased its stake in Ultralife by 4.4% during the 2nd quarter. Acadian Asset Management LLC now owns 146,635 shares of the technology company’s stock worth $1,556,000 after buying an additional 6,206 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Ultralife by 2.4% during the third quarter. Janney Montgomery Scott LLC now owns 443,150 shares of the technology company’s stock valued at $4,006,000 after acquiring an additional 10,450 shares during the last quarter. 30.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ULBI has been the subject of a number of recent analyst reports. StockNews.com cut Ultralife from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 3rd. Benchmark restated a “buy” rating and set a $14.00 price target on shares of Ultralife in a research note 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.