Ultralife (NASDAQ:ULBI) Downgraded to “Buy” at StockNews.com

Ultralife (NASDAQ:ULBI) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday.

Separately, Benchmark increased their target price on Ultralife from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th.

Ultralife Trading Up 1.5 %

Shares of Ultralife stock opened at $9.03 on Tuesday. Ultralife has a fifty-two week low of $3.86 and a fifty-two week high of $11.85. The firm has a market cap of $148.54 million, a PE ratio of 20.52 and a beta of 1.26. The business’s fifty day moving average is $8.41 and its two-hundred day moving average is $8.32. The company has a quick ratio of 2.02, a current ratio of 3.80 and a debt-to-equity ratio of 0.19.

Ultralife (NASDAQ:ULBI) last issued its quarterly earnings results on Thursday, February 15th. The technology company reported $0.18 earnings per share for the quarter. Ultralife had a return on equity of 7.36% and a net margin of 4.54%. The company had revenue of $44.55 million for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ULBI. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Ultralife during the third quarter valued at about $36,000. Citigroup Inc. acquired a new stake in shares of Ultralife during the third quarter valued at about $74,000. Victory Capital Management Inc. acquired a new stake in shares of Ultralife during the fourth quarter valued at about $59,000. Virtu Financial LLC acquired a new stake in shares of Ultralife during the fourth quarter valued at about $72,000. Finally, Algert Global LLC acquired a new stake in shares of Ultralife during the third quarter valued at about $106,000. 30.68% of the stock is owned by hedge funds and other institutional investors.

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.