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

Pitti Group Wealth Management LLC boosted its position in Ultralife Co. (NASDAQ:ULBI) by 41.3% during the 4th quarter, Holdings Channel reports. The fund owned 18,120 shares of the technology company’s stock after buying an additional 5,300 shares during the period. Pitti Group Wealth Management LLC’s holdings in Ultralife were worth $124,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. EAM Investors LLC bought a new position in shares of Ultralife in the third quarter valued at approximately $1,776,000. Acadian Asset Management LLC bought a new position in shares of Ultralife in the third quarter valued at approximately $1,039,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Ultralife in the third quarter valued at approximately $641,000. ClariVest Asset Management LLC bought a new position in shares of Ultralife in the third quarter valued at approximately $616,000. Finally, Barclays PLC bought a new position in shares of Ultralife in the third quarter valued at approximately $127,000. Institutional investors own 30.68% of the company’s stock.

Ultralife Stock Performance

Shares of NASDAQ:ULBI traded up $0.68 during midday trading on Friday, reaching $11.39. 253,864 shares of the company traded hands, compared to its average volume of 77,117. The company has a quick ratio of 2.02, a current ratio of 3.80 and a debt-to-equity ratio of 0.19. Ultralife Co. has a 12 month low of $3.92 and a 12 month high of $11.85. The firm has a market capitalization of $187.38 million, a price-to-earnings ratio of 17.80 and a beta of 1.26. The firm’s fifty day moving average price is $9.20 and its two-hundred day moving average price is $8.21.

Ultralife (NASDAQ:ULBI) last released its quarterly earnings data 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 company had revenue of $44.55 million for the quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. StockNews.com upgraded Ultralife from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Benchmark boosted their target price on Ultralife from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th.

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.