Ultralife (NASDAQ:ULBI) Stock Rating Lowered by StockNews.com

Ultralife (NASDAQ:ULBI) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

Separately, Benchmark raised their target price on Ultralife from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th.

Ultralife Stock Up 1.5 %

Shares of ULBI opened at $9.03 on Tuesday. The company has a current ratio of 3.80, a quick ratio of 2.02 and a debt-to-equity ratio of 0.19. Ultralife has a 12 month low of $3.86 and a 12 month high of $11.85. The stock’s 50 day moving average is $8.41 and its two-hundred day moving average is $8.32. The firm has a market cap of $148.54 million, a P/E ratio of 20.52 and a beta of 1.26.

Ultralife (NASDAQ:ULBI) last issued its quarterly earnings data on Thursday, February 15th. The technology company reported $0.18 EPS for the quarter. The company had revenue of $44.55 million for the quarter. Ultralife had a return on equity of 7.36% and a net margin of 4.54%.

Hedge Funds Weigh In On Ultralife

A number of institutional investors have recently added to or reduced their stakes in ULBI. EAM Investors LLC purchased a new position in Ultralife during the third quarter worth approximately $1,776,000. Acadian Asset Management LLC purchased a new stake in Ultralife in the third quarter valued at $1,039,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Ultralife in the third quarter valued at $641,000. ClariVest Asset Management LLC purchased a new stake in Ultralife in the third quarter valued at $616,000. Finally, Navellier & Associates Inc. purchased a new stake in Ultralife in the fourth quarter valued at $310,000. Hedge funds and other institutional investors 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.