StockNews.com Lowers Ultralife (NASDAQ:ULBI) to Buy

StockNews.com downgraded shares of Ultralife (NASDAQ:ULBI) from a strong-buy rating to a buy rating in a research note released on Thursday morning.

Separately, Benchmark upped 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.

Ultralife Stock Performance

Shares of Ultralife stock traded down $0.01 during trading hours on Thursday, reaching $12.55. The company’s stock had a trading volume of 92,617 shares, compared to its average volume of 112,230. Ultralife has a one year low of $3.92 and a one year high of $12.68. The company’s 50 day simple moving average is $9.49 and its 200 day simple moving average is $8.27. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.16 and a current ratio of 4.03. The stock has a market cap of $206.70 million, a P/E ratio of 19.61 and a beta of 1.12.

Ultralife (NASDAQ:ULBI) last posted its earnings results on Thursday, February 15th. The technology company reported $0.18 EPS for the quarter. The company had revenue of $44.55 million during the quarter. Ultralife had a return on equity of 10.31% and a net margin of 6.19%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ULBI. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Ultralife during the 3rd quarter valued at $36,000. LSV Asset Management raised its holdings in Ultralife by 32.0% during the 3rd quarter. LSV Asset Management now owns 16,900 shares of the technology company’s stock worth $165,000 after buying an additional 4,100 shares during the period. Pitti Group Wealth Management LLC lifted its stake in Ultralife by 41.3% during the fourth quarter. Pitti Group Wealth Management LLC now owns 18,120 shares of the technology company’s stock valued at $124,000 after buying an additional 5,300 shares in the last quarter. Visionary Wealth Advisors boosted its holdings in shares of Ultralife by 0.7% in the third quarter. Visionary Wealth Advisors now owns 1,072,249 shares of the technology company’s stock worth $10,465,000 after buying an additional 7,070 shares during the period. Finally, Citigroup Inc. purchased a new position in shares of Ultralife in the third quarter worth approximately $74,000. 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.