Ultralife (NASDAQ:ULBI) Rating Lowered 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 note issued to investors on Saturday morning.

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

Ultralife Stock Down 0.7 %

Shares of NASDAQ ULBI opened at $10.08 on Friday. The company has a quick ratio of 2.06, a current ratio of 4.07 and a debt-to-equity ratio of 0.07. The company has a market cap of $167.55 million, a P/E ratio of 15.75 and a beta of 0.99. Ultralife has a 52 week low of $6.36 and a 52 week high of $13.39. The business has a 50-day simple moving average of $10.79 and a two-hundred day simple moving average of $9.94.

Ultralife (NASDAQ:ULBI) last posted its 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. The business had revenue of $42.98 million for the quarter. Ultralife had a net margin of 5.96% and a return on equity of 9.32%.

Institutional Trading of Ultralife

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. purchased a new stake in shares of Ultralife in the 4th quarter worth about $59,000. O Shaughnessy Asset Management LLC purchased a new stake in Ultralife in the first quarter worth about $100,000. Pitti Group Wealth Management LLC increased its stake in shares of Ultralife by 41.3% during the fourth 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 in the last quarter. Rhumbline Advisers lifted its holdings in shares of Ultralife by 1,728.3% during the second 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 during the last quarter. Finally, Perritt Capital Management Inc. boosted its position in shares of Ultralife by 25.0% in the 1st 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 in the last quarter. 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.