Ultralife (NASDAQ:ULBI) Downgraded to “Buy” at StockNews.com

StockNews.com lowered shares of Ultralife (NASDAQ:ULBI) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

Separately, Benchmark upped their price target on Ultralife from $13.00 to $14.00 and gave the company a buy rating in a research report on Thursday, June 27th.

Ultralife Trading Down 0.7 %

Shares of NASDAQ:ULBI opened at $10.08 on Friday. The company has a 50 day moving average price of $10.79 and a 200 day moving average price of $9.94. The stock has a market capitalization of $167.55 million, a price-to-earnings ratio of 15.75 and a beta of 0.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.06 and a current ratio of 4.07. Ultralife has a 1-year low of $6.36 and a 1-year high of $13.39.

Ultralife (NASDAQ:ULBI) last issued its quarterly earnings results on Thursday, July 25th. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.14 by $0.08. Ultralife had a net margin of 5.96% and a return on equity of 9.32%. The business had revenue of $42.98 million during the quarter.

Hedge Funds Weigh In On Ultralife

Several institutional investors and hedge funds have recently modified their holdings of the stock. Pitti Group Wealth Management LLC lifted its stake in shares of Ultralife by 41.3% in the 4th quarter. Pitti Group Wealth Management LLC now owns 18,120 shares of the technology company’s stock valued at $124,000 after purchasing an additional 5,300 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Ultralife during the fourth quarter worth approximately $59,000. Janney Montgomery Scott LLC grew its holdings in Ultralife by 3.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 399,100 shares of the technology company’s stock valued at $2,722,000 after purchasing an additional 13,100 shares during the last quarter. Navellier & Associates Inc. bought a new position in shares of Ultralife in the fourth quarter valued at approximately $310,000. Finally, D.A. Davidson & CO. acquired a new stake in shares of Ultralife in the fourth quarter worth $163,000. 30.68% of the stock is currently owned by hedge funds and other institutional investors.

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.