Ultralife (NASDAQ:ULBI) Receives “Buy” Rating from Benchmark

Benchmark reiterated their buy rating on shares of Ultralife (NASDAQ:ULBI) in a report released on Friday morning,Benzinga reports. Benchmark currently has a $14.00 target price on the technology company’s stock.

Separately, StockNews.com downgraded shares of Ultralife from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 3rd.

Ultralife Price Performance

Shares of ULBI opened at $7.54 on Friday. The company has a market cap of $125.39 million, a price-to-earnings ratio of 13.71 and a beta of 0.98. Ultralife has a twelve month low of $6.36 and a twelve month high of $13.39. The company has a quick ratio of 1.62, a current ratio of 3.30 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average of $8.94 and a two-hundred day moving average of $10.20.

Institutional Trading of Ultralife

Several institutional investors have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC acquired a new position in Ultralife during the first quarter worth about $100,000. Barclays PLC boosted its position in Ultralife by 21.3% during the third quarter. Barclays PLC now owns 13,395 shares of the technology company’s stock worth $121,000 after acquiring an additional 2,355 shares during the last quarter. Rhumbline Advisers boosted its holdings in Ultralife by 1,728.3% in the 2nd quarter. Rhumbline Advisers now owns 11,811 shares of the technology company’s stock valued at $125,000 after purchasing an additional 11,165 shares during the last quarter. 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 valued at $132,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Juncture Wealth Strategies LLC acquired a new position in Ultralife in the 3rd quarter valued at about $165,000. Institutional investors and hedge funds own 30.68% of the company’s stock.

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.