Ultralife Co. (NASDAQ:ULBI) Shares Sold by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC trimmed its holdings in shares of Ultralife Co. (NASDAQ:ULBI) by 8.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 73,879 shares of the technology company’s stock after selling 7,231 shares during the quarter. Bridgeway Capital Management LLC’s holdings in Ultralife were worth $550,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. IFP Advisors Inc acquired a new stake in Ultralife in the 4th quarter valued at $85,000. Bank of America Corp DE raised its position in shares of Ultralife by 30.7% in the 4th quarter. Bank of America Corp DE now owns 12,067 shares of the technology company’s stock valued at $90,000 after purchasing an additional 2,836 shares in the last quarter. Barclays PLC raised its stake in shares of Ultralife by 21.3% in the 3rd quarter. Barclays PLC now owns 13,395 shares of the technology company’s stock valued at $121,000 after purchasing an additional 2,355 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Ultralife in the 3rd quarter worth approximately $166,000. Finally, LSV Asset Management bought a new position in Ultralife during the fourth quarter worth $145,000. 30.68% of the stock is currently owned by hedge funds and other institutional investors.

Ultralife Stock Up 3.5%

NASDAQ:ULBI opened at $5.05 on Monday. The company has a current ratio of 3.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average of $4.96 and a 200-day moving average of $6.68. The firm has a market capitalization of $84.00 million, a PE ratio of 9.18 and a beta of 0.77. Ultralife Co. has a 52 week low of $4.07 and a 52 week high of $12.63.

Ultralife (NASDAQ:ULBI) last posted its earnings results on Friday, May 9th. The technology company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Ultralife had a net margin of 5.44% and a return on equity of 7.92%. The company had revenue of $50.75 million during the quarter, compared to the consensus estimate of $54.50 million. During the same quarter in the previous year, the business posted $0.21 earnings per share.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Ultralife from a “buy” rating to a “hold” rating in a report 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.