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 research report sent to investors on Wednesday morning.

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

Ultralife Trading Up 3.8 %

Shares of ULBI stock opened at $8.73 on Wednesday. The stock has a 50 day simple moving average of $9.11 and a 200 day simple moving average of $8.18. Ultralife has a 1 year low of $3.92 and a 1 year high of $11.85. The company has a current ratio of 3.80, a quick ratio of 2.02 and a debt-to-equity ratio of 0.19. The stock has a market cap of $143.61 million, a P/E ratio of 19.84 and a beta of 1.26.

Ultralife (NASDAQ:ULBI) last released its earnings results on Thursday, February 15th. The technology company reported $0.18 earnings per share (EPS) 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.

Hedge Funds Weigh In On Ultralife

Several large investors have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new stake in Ultralife during the 3rd quarter valued at approximately $1,039,000. Citigroup Inc. acquired a new stake in shares of Ultralife during the third quarter worth $74,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Ultralife during the third quarter worth $36,000. Jump Financial LLC acquired a new position in Ultralife in the third quarter valued at $118,000. Finally, ClariVest Asset Management LLC bought a new stake in Ultralife during the third quarter valued at $616,000. Institutional investors 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.