Ultralife (NASDAQ:ULBI) Downgraded by StockNews.com to “Buy”

StockNews.com cut shares of Ultralife (NASDAQ:ULBI) from a strong-buy rating to a buy rating in a report issued on Tuesday morning.

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

Ultralife Trading Down 2.4 %

Ultralife stock opened at $8.81 on Tuesday. The business has a 50-day simple moving average of $8.45 and a two-hundred day simple moving average of $8.32. The company has a market cap of $144.92 million, a P/E ratio of 20.02 and a beta of 1.26. Ultralife has a 52-week low of $3.86 and a 52-week high of $11.85. The company has a quick ratio of 2.02, a current ratio of 3.80 and a debt-to-equity ratio of 0.19.

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

Institutional Trading of Ultralife

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Ultralife in the third quarter valued at about $36,000. Citigroup Inc. acquired a new stake in shares of Ultralife during the third quarter worth about $74,000. Victory Capital Management Inc. acquired a new position in Ultralife in the fourth quarter valued at approximately $59,000. Virtu Financial LLC acquired a new position in Ultralife in the fourth quarter valued at approximately $72,000. Finally, Algert Global LLC acquired a new position in Ultralife in the third quarter valued at approximately $106,000. 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.