Pitti Group Wealth Management LLC Buys 5,300 Shares of Ultralife Co. (NASDAQ:ULBI)

Pitti Group Wealth Management LLC grew its holdings in Ultralife Co. (NASDAQ:ULBI) by 41.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,120 shares of the technology company’s stock after acquiring an additional 5,300 shares during the quarter. Pitti Group Wealth Management LLC owned 0.11% of Ultralife worth $124,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Ultralife in the third quarter valued at approximately $36,000. Citigroup Inc. bought a new position in Ultralife in the third quarter worth $74,000. Algert Global LLC bought a new position in Ultralife in the third quarter worth $106,000. Jump Financial LLC bought a new position in Ultralife in the third quarter worth $118,000. Finally, Barclays PLC bought a new position in Ultralife in the third quarter worth $127,000. 30.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on ULBI shares. Benchmark raised their target price on Ultralife from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. StockNews.com upgraded Ultralife from a “buy” rating to a “strong-buy” rating in a research note on Wednesday.

Ultralife Stock Up 6.3 %

Ultralife stock traded up $0.68 during midday trading on Friday, reaching $11.39. The stock had a trading volume of 253,864 shares, compared to its average volume of 77,117. The firm’s fifty day simple moving average is $9.20 and its 200-day simple moving average is $8.21. Ultralife Co. has a 1-year low of $3.92 and a 1-year high of $11.85. The stock has a market capitalization of $187.38 million, a P/E ratio of 17.80 and a beta of 1.26. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.02 and a current ratio of 3.80.

Ultralife (NASDAQ:ULBI) last announced its earnings results on Thursday, February 15th. The technology company reported $0.18 earnings per share (EPS) for the quarter. Ultralife had a return on equity of 10.45% and a net margin of 6.19%. The business had revenue of $44.55 million for the quarter.

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.