Benchmark Reaffirms “Buy” Rating for Ultralife (NASDAQ:ULBI)

Ultralife (NASDAQ:ULBI)‘s stock had its “buy” rating reiterated by stock analysts at Benchmark in a report released on Friday,Benzinga reports. They currently have a $14.00 price objective on the technology company’s stock. Benchmark’s target price points to a potential upside of 90.22% from the company’s previous close.

Separately, StockNews.com cut Ultralife from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 3rd.

Ultralife Stock Performance

NASDAQ ULBI opened at $7.36 on Friday. The company has a market capitalization of $122.40 million, a price-to-earnings ratio of 13.38 and a beta of 0.98. The company has a quick ratio of 2.06, a current ratio of 3.30 and a debt-to-equity ratio of 0.04. Ultralife has a twelve month low of $6.36 and a twelve month high of $13.39. The stock has a fifty day simple moving average of $8.97 and a 200 day simple moving average of $10.24.

Institutional Investors Weigh In On Ultralife

Large investors have recently modified their holdings of the company. O Shaughnessy Asset Management LLC acquired a new position in Ultralife in the first quarter valued at $100,000. Barclays PLC lifted its stake in shares of Ultralife by 21.3% in the 3rd quarter. Barclays PLC now owns 13,395 shares of the technology company’s stock valued at $121,000 after purchasing an additional 2,355 shares during the period. Rhumbline Advisers boosted its position in shares of Ultralife by 1,728.3% during the 2nd quarter. Rhumbline Advisers now owns 11,811 shares of the technology company’s stock valued at $125,000 after purchasing an additional 11,165 shares in the last quarter. Perritt Capital Management Inc. grew its stake in Ultralife by 25.0% during 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. Finally, Juncture Wealth Strategies LLC bought a new stake in Ultralife in the third quarter worth approximately $165,000. 30.68% of the stock is currently owned by institutional investors and hedge funds.

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.