StockNews.com Upgrades Ultralife (NASDAQ:ULBI) to Strong-Buy

StockNews.com upgraded shares of Ultralife (NASDAQ:ULBI) from a buy rating to a strong-buy rating in a report issued on Monday.

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

Ultralife Price Performance

Ultralife stock opened at $10.52 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.07 and a quick ratio of 2.06. The stock has a market capitalization of $174.86 million, a PE ratio of 16.44 and a beta of 0.99. The business has a 50 day simple moving average of $10.64 and a 200-day simple moving average of $10.05. Ultralife has a 12 month low of $6.36 and a 12 month high of $13.39.

Ultralife (NASDAQ:ULBI) last released its quarterly earnings results on Thursday, July 25th. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.08. Ultralife had a return on equity of 9.32% and a net margin of 5.96%. The company had revenue of $42.98 million during the quarter.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. ClariVest Asset Management LLC boosted its position in Ultralife by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 66,657 shares of the technology company’s stock worth $708,000 after purchasing an additional 1,864 shares during the period. Empowered Funds LLC grew its position in shares of Ultralife by 7.8% in the first quarter. Empowered Funds LLC now owns 31,396 shares of the technology company’s stock valued at $277,000 after purchasing an additional 2,275 shares during the last quarter. Perritt Capital Management Inc. increased its stake in shares of Ultralife by 25.0% in the first quarter. Perritt Capital Management Inc. now owns 15,000 shares of the technology company’s stock worth $132,000 after purchasing an additional 3,000 shares during the period. Pitti Group Wealth Management LLC boosted its stake in Ultralife by 41.3% during 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 period. Finally, Acadian Asset Management LLC grew its holdings in Ultralife by 4.4% in the 2nd quarter. Acadian Asset Management LLC now owns 146,635 shares of the technology company’s stock valued at $1,556,000 after buying an additional 6,206 shares during the last quarter. Institutional investors and hedge funds own 30.68% of the company’s stock.

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.