Ultralife (NASDAQ:ULBI) Downgraded by StockNews.com to Hold

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

Ultralife Stock Up 1.6 %

NASDAQ ULBI opened at $5.67 on Tuesday. The company has a quick ratio of 1.62, a current ratio of 3.30 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average of $6.98 and a two-hundred day moving average of $7.92. The firm has a market capitalization of $94.28 million, a price-to-earnings ratio of 10.31 and a beta of 1.05. Ultralife has a 52 week low of $5.31 and a 52 week high of $13.39.

Institutional Trading of Ultralife

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in shares of Ultralife by 250.8% during the third quarter. JPMorgan Chase & Co. now owns 47,458 shares of the technology company’s stock worth $429,000 after purchasing an additional 33,929 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Ultralife by 1.2% during the third quarter. Geode Capital Management LLC now owns 232,681 shares of the technology company’s stock worth $2,104,000 after purchasing an additional 2,835 shares during the last quarter. IFP Advisors Inc bought a new stake in shares of Ultralife in the fourth quarter valued at about $85,000. Janney Montgomery Scott LLC raised its holdings in shares of Ultralife by 0.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 447,000 shares of the technology company’s stock valued at $3,330,000 after acquiring an additional 3,850 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Ultralife by 21.3% in the third quarter. Barclays PLC now owns 13,395 shares of the technology company’s stock valued at $121,000 after acquiring an additional 2,355 shares in the last quarter. 30.68% of the stock is currently owned by institutional investors.

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.