StockNews.com upgraded shares of Ultralife (NASDAQ:ULBI – Free Report) from a buy rating to a strong-buy rating in a research note published on Wednesday morning.
Separately, Benchmark lifted their price target on shares of Ultralife from $12.00 to $13.00 and gave the stock a buy rating in a research report on Tuesday, March 5th.
Check Out Our Latest Research Report on Ultralife
Ultralife Price Performance
Ultralife (NASDAQ:ULBI – Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The technology company reported $0.18 earnings per share (EPS) for the quarter. The firm had revenue of $44.55 million for the quarter. Ultralife had a net margin of 4.54% and a return on equity of 7.36%.
Hedge Funds Weigh In On Ultralife
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ULBI. Visionary Wealth Advisors lifted its stake in shares of Ultralife by 0.9% in the 4th quarter. Visionary Wealth Advisors now owns 1,082,246 shares of the technology company’s stock valued at $7,381,000 after purchasing an additional 9,997 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Ultralife by 3.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 399,100 shares of the technology company’s stock valued at $2,722,000 after purchasing an additional 13,100 shares during the last quarter. EAM Investors LLC acquired a new stake in shares of Ultralife in the 3rd quarter valued at $1,776,000. Acadian Asset Management LLC acquired a new stake in shares of Ultralife in the 3rd quarter valued at $1,039,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Ultralife in the 3rd quarter valued at $641,000. 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.
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