Insider Buying: Ultralife Co. (NASDAQ:ULBI) CEO Acquires 1,500 Shares of Stock

Ultralife Co. (NASDAQ:ULBI) CEO Michael Edward Manna bought 1,500 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average cost of $7.25 per share, with a total value of $10,875.00. Following the completion of the purchase, the chief executive officer now owns 19,874 shares in the company, valued at $144,086.50. This represents a 8.16 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ultralife Stock Performance

Shares of Ultralife stock traded up $0.23 on Thursday, hitting $7.41. The stock had a trading volume of 31,389 shares, compared to its average volume of 79,543. The stock has a market cap of $123.23 million, a price-to-earnings ratio of 13.05 and a beta of 0.98. The business’s 50 day moving average is $8.85 and its two-hundred day moving average is $10.14. The company has a quick ratio of 1.62, a current ratio of 3.30 and a debt-to-equity ratio of 0.04. Ultralife Co. has a twelve month low of $6.36 and a twelve month high of $13.39.

Hedge Funds Weigh In On Ultralife

Several institutional investors and hedge funds have recently modified their holdings of ULBI. Vanguard Group Inc. grew its position in Ultralife by 1.3% during the first quarter. Vanguard Group Inc. now owns 515,840 shares of the technology company’s stock worth $4,545,000 after buying an additional 6,640 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of Ultralife during the 1st quarter worth approximately $100,000. Quadrature Capital Ltd bought a new position in shares of Ultralife in the 1st quarter valued at $200,000. Perritt Capital Management Inc. lifted its position in shares of Ultralife by 25.0% during the 1st quarter. Perritt Capital Management Inc. now owns 15,000 shares of the technology company’s stock worth $132,000 after buying an additional 3,000 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Ultralife by 203.1% in the second quarter. Bank of New York Mellon Corp now owns 39,111 shares of the technology company’s stock valued at $415,000 after buying an additional 26,206 shares in the last quarter. 30.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ULBI shares. Benchmark reaffirmed a “buy” rating and issued a $14.00 target price on shares of Ultralife in a research note on Friday, November 15th. StockNews.com cut shares of Ultralife from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 3rd.

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.