Visionary Wealth Advisors Makes New Investment in Ultralife Corporation $ULBI

Visionary Wealth Advisors acquired a new stake in shares of Ultralife Corporation (NASDAQ:ULBI) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 1,109,170 shares of the technology company’s stock, valued at approximately $7,010,000. Visionary Wealth Advisors owned approximately 0.07% of Ultralife at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its position in shares of Ultralife by 2.0% during the first quarter. Janney Montgomery Scott LLC now owns 518,000 shares of the technology company’s stock worth $3,377,000 after acquiring an additional 10,200 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Ultralife by 210.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 219,018 shares of the technology company’s stock valued at $1,494,000 after acquiring an additional 148,542 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Ultralife in the 2nd quarter valued at $980,000. BlackRock Inc. purchased a new stake in Ultralife in the 2nd quarter worth $976,000. Finally, Raymond James Financial Inc. lifted its stake in Ultralife by 14.5% in the 2nd quarter. Raymond James Financial Inc. now owns 116,085 shares of the technology company’s stock worth $1,042,000 after purchasing an additional 14,667 shares in the last quarter. Hedge funds and other institutional investors own 30.68% of the company’s stock.

Ultralife Stock Down 3.4%

Shares of ULBI opened at $6.77 on Tuesday. The stock has a market capitalization of $112.81 million, a price-to-earnings ratio of -16.92 and a beta of 0.80. Ultralife Corporation has a 1 year low of $4.90 and a 1 year high of $8.25. The business’s 50 day simple moving average is $6.09 and its 200-day simple moving average is $6.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.30.

Ultralife (NASDAQ:ULBI) last posted its earnings results on Friday, August 7th. The technology company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. Ultralife had a positive return on equity of 2.75% and a negative net margin of 3.50%.The firm had revenue of $47.94 million during the quarter, compared to the consensus estimate of $55.00 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Ultralife from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, June 12th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Ultralife Company Profile

Ultralife Corporation (NASDAQ: ULBI) develops, manufactures and sells a broad range of energy and communications products for defense, medical, automotive and consumer electronics markets. The company operates through two primary segments: Power Systems and Communications Systems. In its Power Systems segment, Ultralife produces lithium-ion rechargeable cells and battery packs, primary lithium batteries, alkaline and rechargeable battery packs, chargers and battery accessories designed to meet demanding performance and safety requirements.