Perritt Capital Management Inc Grows Stake in Ultralife Co. (NASDAQ:ULBI)

Perritt Capital Management Inc boosted its stake in shares of Ultralife Co. (NASDAQ:ULBI) by 100.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,000 shares of the technology company’s stock after acquiring an additional 15,000 shares during the quarter. Perritt Capital Management Inc owned about 0.18% of Ultralife worth $224,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in Ultralife in the third quarter worth about $166,000. Barclays PLC lifted its stake in shares of Ultralife by 21.3% during the 3rd quarter. Barclays PLC now owns 13,395 shares of the technology company’s stock worth $121,000 after acquiring an additional 2,355 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Ultralife by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 232,681 shares of the technology company’s stock valued at $2,104,000 after acquiring an additional 2,835 shares during the period. JPMorgan Chase & Co. grew its position in Ultralife by 250.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 47,458 shares of the technology company’s stock valued at $429,000 after acquiring an additional 33,929 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in Ultralife by 0.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 447,000 shares of the technology company’s stock worth $3,330,000 after purchasing an additional 3,850 shares during the period. 30.68% of the stock is currently owned by hedge funds and other institutional investors.

Ultralife Trading Down 6.1 %

ULBI opened at $5.05 on Wednesday. Ultralife Co. has a 12 month low of $4.42 and a 12 month high of $13.39. The stock has a fifty day moving average price of $6.56 and a 200-day moving average price of $7.65. The firm has a market cap of $83.97 million, a price-to-earnings ratio of 9.18 and a beta of 1.05. The company has a current ratio of 3.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.04.

Ultralife (NASDAQ:ULBI) last announced its earnings results on Tuesday, April 1st. The technology company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.14). Ultralife had a return on equity of 7.92% and a net margin of 5.44%. The firm had revenue of $43.85 million during the quarter, compared to the consensus estimate of $40.00 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Ultralife from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th.

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.