Ultralife (NASDAQ:ULBI) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Ultralife (NASDAQ:ULBI) from a buy rating to a strong-buy rating in a research note released on Wednesday.

Separately, Benchmark raised their target price on shares of Ultralife from $12.00 to $13.00 and gave the company a buy rating in a research report on Tuesday, March 5th.

Ultralife Stock Performance

NASDAQ ULBI opened at $11.39 on Wednesday. The company has a current ratio of 3.80, a quick ratio of 2.02 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $187.37 million, a price-to-earnings ratio of 25.89 and a beta of 1.26. The firm’s 50 day simple moving average is $9.16 and its 200 day simple moving average is $8.20. Ultralife has a 1 year low of $3.92 and a 1 year high of $11.85.

Ultralife (NASDAQ:ULBI) last posted its quarterly earnings results on Thursday, February 15th. The technology company reported $0.18 earnings per share (EPS) for the quarter. The business had revenue of $44.55 million for the quarter. Ultralife had a net margin of 4.54% and a return on equity of 7.36%.

Institutional Trading of Ultralife

Hedge funds have recently added to or reduced their stakes in the stock. LSV Asset Management lifted its holdings in shares of Ultralife by 32.0% during the third quarter. LSV Asset Management now owns 16,900 shares of the technology company’s stock worth $165,000 after purchasing an additional 4,100 shares during the period. Jump Financial LLC acquired a new position in shares of Ultralife during the third quarter worth $118,000. Barclays PLC acquired a new position in shares of Ultralife during the third quarter worth $127,000. ClariVest Asset Management LLC acquired a new position in shares of Ultralife during the third quarter worth $616,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Ultralife during the third quarter worth $1,039,000. Institutional investors and hedge funds own 30.68% of the company’s stock.

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.