Janney Montgomery Scott LLC Raises Stock Position in Ultralife Co. (NASDAQ:ULBI)

Janney Montgomery Scott LLC raised its position in Ultralife Co. (NASDAQ:ULBI) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 447,000 shares of the technology company’s stock after purchasing an additional 3,850 shares during the quarter. Janney Montgomery Scott LLC owned about 2.69% of Ultralife worth $3,330,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in Ultralife by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,024,491 shares of the technology company’s stock valued at $10,880,000 after buying an additional 51,399 shares during the period. JPMorgan Chase & Co. raised its stake in shares of 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 period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Ultralife by 15.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 157,330 shares of the technology company’s stock worth $1,422,000 after acquiring an additional 21,140 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Ultralife during the 3rd quarter worth approximately $166,000. Finally, Juncture Wealth Strategies LLC acquired a new stake in Ultralife in the 3rd quarter valued at approximately $165,000. Hedge funds and other institutional investors own 30.68% of the company’s stock.

Ultralife Stock Down 2.2 %

Shares of NASDAQ:ULBI opened at $7.58 on Friday. The firm has a market capitalization of $126.03 million, a PE ratio of 13.78 and a beta of 0.96. Ultralife Co. has a 1 year low of $6.63 and a 1 year high of $13.39. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.30 and a quick ratio of 1.62. The firm’s 50-day moving average is $7.66 and its two-hundred day moving average is $8.91.

Analysts Set New Price Targets

Separately, Benchmark restated a “buy” rating and set a $14.00 price target on shares of Ultralife in a research note on Friday, November 15th.

Ultralife Company 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.