Ultralife (NASDAQ:ULBI) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Ultralife (NASDAQ:ULBI) from a buy rating to a strong-buy rating in a research note issued to investors on Friday.

Separately, Benchmark raised their target price on shares of 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

Shares of Ultralife stock opened at $10.70 on Friday. The company has a market capitalization of $177.83 million, a price-to-earnings ratio of 16.72 and a beta of 0.99. 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 stock’s 50-day simple moving average is $10.88 and its 200-day simple moving average is $9.79. Ultralife has a 52 week low of $6.36 and a 52 week high of $13.39.

Ultralife (NASDAQ:ULBI) last posted its quarterly earnings results on Thursday, July 25th. The technology company reported $0.22 EPS 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 for the quarter.

Hedge Funds Weigh In On Ultralife

Several institutional investors have recently added to or reduced their stakes in ULBI. Visionary Wealth Advisors raised its holdings in shares of Ultralife by 0.9% during the 4th quarter. Visionary Wealth Advisors now owns 1,082,246 shares of the technology company’s stock worth $7,381,000 after acquiring an additional 9,997 shares in the last quarter. Vanguard Group Inc. raised its stake in Ultralife by 1.3% during the first quarter. Vanguard Group Inc. now owns 515,840 shares of the technology company’s stock valued at $4,545,000 after purchasing an additional 6,640 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Ultralife by 10.0% during the first quarter. Janney Montgomery Scott LLC now owns 439,100 shares of the technology company’s stock valued at $3,868,000 after purchasing an additional 40,000 shares in the last quarter. Navellier & Associates Inc. bought a new position in Ultralife during the fourth quarter valued at $310,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Ultralife by 203.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 39,111 shares of the technology company’s stock worth $415,000 after buying an additional 26,206 shares in the last quarter. Hedge funds and other institutional investors 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.