Ultralife (NASDAQ:ULBI) Stock Passes Above 200 Day Moving Average of $7.02

Ultralife Co. (NASDAQ:ULBI)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.02 and traded as high as $7.97. Ultralife shares last traded at $7.85, with a volume of 70,734 shares trading hands.

A number of analysts recently issued reports on the company. Benchmark assumed coverage on Ultralife in a report on Thursday, April 1st. They issued a “buy” rating and a $12.00 price target for the company. TheStreet upgraded Ultralife from a “c+” rating to a “b-” rating in a report on Thursday, April 22nd.

The company has a market cap of $126.22 million, a P/E ratio of 26.30 and a beta of 1.57. The company has a quick ratio of 1.87, a current ratio of 3.58 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $8.13 and its 200 day moving average is $7.03.

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in shares of Ultralife by 7.9% in the 1st quarter. JPMorgan Chase & Co. now owns 29,580 shares of the technology company’s stock valued at $245,000 after acquiring an additional 2,171 shares during the period. Panagora Asset Management Inc. acquired a new position in shares of Ultralife in the 1st quarter valued at $103,000. Acadian Asset Management LLC purchased a new stake in Ultralife in the first quarter valued at $55,000. BlackRock Inc. boosted its holdings in Ultralife by 1.4% in the first quarter. BlackRock Inc. now owns 547,018 shares of the technology company’s stock valued at $4,529,000 after purchasing an additional 7,335 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in Ultralife by 68.9% in the first quarter. BNP Paribas Arbitrage SA now owns 5,967 shares of the technology company’s stock valued at $49,000 after purchasing an additional 2,434 shares during the last quarter. 35.01% of the stock is owned by institutional investors.

Ultralife Company Profile (NASDAQ:ULBI)

Ultralife Corporation, together with its subsidiaries, designs, manufactures, installs, and maintains power, and communication and electronics systems worldwide. The company serves government, defense, and commercial sectors. The company operates in two segments, Battery & Energy Products and Communications Systems.

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