Ultralife (NASDAQ:ULBI – Get Free Report) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Monday.
Separately, Benchmark upped their price objective on shares of Ultralife from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th.
Check Out Our Latest Stock Analysis on Ultralife
Ultralife Stock Performance
Ultralife (NASDAQ:ULBI – Get Free Report) last issued its quarterly earnings data 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 net margin of 5.96% and a return on equity of 9.32%. The business had revenue of $42.98 million for the quarter.
Institutional Trading of Ultralife
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in shares of Ultralife by 5.3% during 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 buying an additional 51,399 shares in the last quarter. Navellier & Associates Inc. purchased a new position in Ultralife during the fourth quarter valued at $310,000. Janney Montgomery Scott LLC grew its position in shares of Ultralife by 10.0% in 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 during the period. Bank of New York Mellon Corp increased its stake in shares of Ultralife by 203.1% during the second quarter. Bank of New York Mellon Corp now owns 39,111 shares of the technology company’s stock worth $415,000 after purchasing an additional 26,206 shares in the last quarter. Finally, XTX Topco Ltd raised its position in shares of Ultralife by 192.1% during the 2nd quarter. XTX Topco Ltd now owns 37,399 shares of the technology company’s stock worth $397,000 after purchasing an additional 24,595 shares during 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.
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