Geode Capital Management LLC Grows Stock Position in Ultralife Co. (NASDAQ:ULBI)

Geode Capital Management LLC raised its holdings in shares of Ultralife Co. (NASDAQ:ULBI) by 1.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 232,681 shares of the technology company’s stock after acquiring an additional 2,835 shares during the quarter. Geode Capital Management LLC owned approximately 1.40% of Ultralife worth $2,104,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ULBI. Dimensional Fund Advisors LP boosted its position in shares of Ultralife by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,024,491 shares of the technology company’s stock worth $10,880,000 after acquiring an additional 51,399 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Ultralife by 203.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 39,111 shares of the technology company’s stock valued at $415,000 after purchasing an additional 26,206 shares during the last quarter. XTX Topco Ltd boosted its holdings in shares of Ultralife by 192.1% in the 2nd quarter. XTX Topco Ltd now owns 37,399 shares of the technology company’s stock valued at $397,000 after purchasing an additional 24,595 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Ultralife by 15.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 157,330 shares of the technology company’s stock valued at $1,422,000 after buying an additional 21,140 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Ultralife by 9.1% during the 2nd quarter. Renaissance Technologies LLC now owns 242,490 shares of the technology company’s stock worth $2,575,000 after buying an additional 20,300 shares during the last quarter. Institutional investors and hedge funds own 30.68% of the company’s stock.

Wall Street Analyst Weigh In

ULBI has been the subject of several research analyst reports. StockNews.com lowered Ultralife from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 3rd. Benchmark restated a “buy” rating and issued a $14.00 price target on shares of Ultralife in a report on Friday, November 15th.

Ultralife Price Performance

ULBI opened at $7.39 on Thursday. The company has a quick ratio of 1.62, a current ratio of 3.30 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $7.74 and its 200 day moving average price is $9.22. Ultralife Co. has a fifty-two week low of $6.63 and a fifty-two week high of $13.39. The firm has a market cap of $122.87 million, a price-to-earnings ratio of 13.44 and a beta of 0.96.

About Ultralife

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.