Ultralife Co. (NASDAQ:ULBI) Short Interest Up 19.3% in December

Ultralife Co. (NASDAQ:ULBI) was the target of a large increase in short interest during the month of 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. Currently, 1.8% of the company’s shares are sold short. Based on an average trading volume of 65,200 shares, the days-to-cover ratio is presently 2.8 days.

Ultralife Trading Down 1.5 %

ULBI traded down $0.11 during midday trading on Friday, reaching $7.29. 46,380 shares of the company’s stock traded hands, compared to its average volume of 76,976. The stock has a market capitalization of $121.21 million, a price-to-earnings ratio of 13.25 and a beta of 0.95. Ultralife has a 52 week low of $6.36 and a 52 week high of $13.39. The firm has a fifty day moving average of $7.95 and a two-hundred day moving average of $9.37. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.30 and a quick ratio of 1.62.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. 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 research report on Thursday, October 3rd.

Hedge Funds Weigh In On Ultralife

A number of hedge funds and other institutional investors have recently made changes to their positions in ULBI. Dimensional Fund Advisors LP increased its position in Ultralife by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,024,491 shares of the technology company’s stock valued at $10,880,000 after purchasing an additional 51,399 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Ultralife by 2.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 443,150 shares of the technology company’s stock valued at $4,006,000 after purchasing an additional 10,450 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Ultralife by 9.1% during the second quarter. Renaissance Technologies LLC now owns 242,490 shares of the technology company’s stock valued at $2,575,000 after buying an additional 20,300 shares during the period. Geode Capital Management LLC raised its stake in Ultralife by 1.2% in the third 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. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Ultralife by 15.5% in the third 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 in the last quarter. Institutional investors own 30.68% of the company’s stock.

Ultralife Company 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.