Ultralife (NASDAQ:ULBI) Upgraded at StockNews.com

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

Separately, Benchmark raised their target price on shares of Ultralife from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th.

Ultralife Price Performance

NASDAQ ULBI opened at $10.30 on Monday. Ultralife has a 12 month low of $6.36 and a 12 month high of $13.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.07 and a quick ratio of 2.06. The firm has a market capitalization of $171.19 million, a PE ratio of 16.09 and a beta of 0.99. The company’s 50 day simple moving average is $10.66 and its 200 day simple moving average is $10.05.

Ultralife (NASDAQ:ULBI) last issued its earnings results on Thursday, July 25th. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.08. The firm had revenue of $42.98 million during the quarter. Ultralife had a net margin of 5.96% and a return on equity of 9.32%.

Hedge Funds Weigh In On Ultralife

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd boosted its stake in Ultralife by 192.1% in the 2nd quarter. XTX Topco Ltd now owns 37,399 shares of the technology company’s stock worth $397,000 after purchasing an additional 24,595 shares during the period. Renaissance Technologies LLC boosted its stake in Ultralife by 9.1% in the 2nd quarter. Renaissance Technologies LLC now owns 242,490 shares of the technology company’s stock worth $2,575,000 after purchasing an additional 20,300 shares during the period. Dimensional Fund Advisors LP boosted its stake in Ultralife by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,024,491 shares of the technology company’s stock worth $10,880,000 after purchasing an additional 51,399 shares during the period. ClariVest Asset Management LLC boosted its stake in Ultralife by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 66,657 shares of the technology company’s stock worth $708,000 after purchasing an additional 1,864 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in Ultralife by 4.4% in the 2nd quarter. Acadian Asset Management LLC now owns 146,635 shares of the technology company’s stock worth $1,556,000 after purchasing an additional 6,206 shares during the period. 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.