Ultralife (NASDAQ:ULBI) Earns Buy Rating from Benchmark

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

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

Ultralife Trading Down 4.0 %

Shares of ULBI stock opened at $7.36 on Friday. The stock has a market cap of $122.40 million, a P/E ratio of 13.38 and a beta of 0.98. Ultralife has a 1 year low of $6.36 and a 1 year high of $13.39. The company has a current ratio of 3.30, a quick ratio of 2.06 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $8.97 and a 200 day simple moving average of $10.24.

Hedge Funds Weigh In On Ultralife

A number of institutional investors have recently modified their holdings of ULBI. Dimensional Fund Advisors LP boosted its stake in shares of Ultralife by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,024,491 shares of the technology company’s stock valued at $10,880,000 after purchasing an additional 51,399 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Ultralife by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 515,840 shares of the technology company’s stock valued at $4,545,000 after acquiring an additional 6,640 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Ultralife by 2.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 443,150 shares of the technology company’s stock valued at $4,006,000 after acquiring an additional 10,450 shares in the last quarter. Renaissance Technologies LLC grew its position in Ultralife by 9.1% during the 2nd quarter. Renaissance Technologies LLC now owns 242,490 shares of the technology company’s stock worth $2,575,000 after acquiring an additional 20,300 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Ultralife by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 232,681 shares of the technology company’s stock worth $2,104,000 after purchasing an additional 2,835 shares in 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.