Acadian Asset Management LLC Acquires 6,206 Shares of Ultralife Co. (NASDAQ:ULBI)

Acadian Asset Management LLC raised its holdings in Ultralife Co. (NASDAQ:ULBI) by 4.4% during the second quarter, HoldingsChannel.com reports. The fund owned 146,635 shares of the technology company’s stock after purchasing an additional 6,206 shares during the period. Acadian Asset Management LLC’s holdings in Ultralife were worth $1,556,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. bought a new stake in shares of Ultralife during the fourth quarter worth about $59,000. O Shaughnessy Asset Management LLC bought a new stake in shares of Ultralife during the first quarter worth about $100,000. Rhumbline Advisers grew its holdings in shares of 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 purchasing an additional 11,165 shares during the last quarter. Perritt Capital Management Inc. grew its holdings in shares of Ultralife by 25.0% during the first quarter. Perritt Capital Management Inc. now owns 15,000 shares of the technology company’s stock worth $132,000 after purchasing an additional 3,000 shares during the last quarter. Finally, D.A. Davidson & CO. bought a new stake in shares of Ultralife during the fourth quarter worth about $163,000. Institutional investors own 30.68% of the company’s stock.

Ultralife Price Performance

Ultralife stock opened at $9.55 on Monday. The stock’s 50 day moving average is $10.54 and its 200 day moving average is $10.37. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.07 and a quick ratio of 2.06. The firm has a market cap of $158.72 million, a P/E ratio of 14.92 and a beta of 0.98. Ultralife Co. has a one year low of $6.36 and a one year high of $13.39.

Ultralife (NASDAQ:ULBI) last posted its quarterly earnings data on Thursday, July 25th. The technology company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.08. Ultralife had a return on equity of 9.32% and a net margin of 5.96%. The company had revenue of $42.98 million for the quarter.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ULBI. StockNews.com upgraded Ultralife from a “buy” rating to a “strong-buy” rating in a report on Monday, August 12th. Benchmark lifted their price objective on Ultralife from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th.

Ultralife 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.