Ultralife (NASDAQ:ULBI) Upgraded to Strong-Buy at StockNews.com

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

Separately, Benchmark lifted their price target on 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 NASDAQ ULBI opened at $10.70 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.07 and a quick ratio of 2.06. The firm’s 50 day simple moving average is $10.88 and its 200-day simple moving average is $9.79. Ultralife has a 12 month low of $6.36 and a 12 month high of $13.39. The stock has a market capitalization of $177.83 million, a price-to-earnings ratio of 16.72 and a beta of 0.99.

Ultralife (NASDAQ:ULBI) last released its quarterly earnings results on Thursday, July 25th. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.14 by $0.08. The company 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 Investors Weigh In On Ultralife

A number of institutional investors have recently added to or reduced their stakes in ULBI. Citigroup Inc. purchased a new position in Ultralife during the third quarter valued at $74,000. Victory Capital Management Inc. acquired a new position in shares of Ultralife during the 4th quarter worth about $59,000. O Shaughnessy Asset Management LLC purchased a new position in Ultralife in the 1st quarter valued at about $100,000. Perritt Capital Management Inc. boosted its holdings in 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 buying an additional 3,000 shares during the last quarter. Finally, Pitti Group Wealth Management LLC increased its stake in Ultralife by 41.3% during the 4th quarter. Pitti Group Wealth Management LLC now owns 18,120 shares of the technology company’s stock worth $124,000 after buying an additional 5,300 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.