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

Benchmark reissued their buy rating on shares of Ultralife (NASDAQ:ULBI) in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a $14.00 price target on the technology company’s stock.

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

Ultralife Price Performance

Ultralife stock opened at $7.54 on Friday. Ultralife has a 12 month low of $6.36 and a 12 month high of $13.39. The company has a current ratio of 3.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.04. The business’s 50 day simple moving average is $8.94 and its 200 day simple moving average is $10.20. The company has a market cap of $125.39 million, a price-to-earnings ratio of 13.71 and a beta of 0.98.

Institutional Investors Weigh In On Ultralife

Several institutional investors and hedge funds have recently made changes to their positions in ULBI. O Shaughnessy Asset Management LLC purchased a new position in shares of Ultralife during the 1st quarter worth $100,000. Barclays PLC lifted its stake in shares of Ultralife by 21.3% during the 3rd quarter. Barclays PLC now owns 13,395 shares of the technology company’s stock valued at $121,000 after buying an additional 2,355 shares in the last quarter. Rhumbline Advisers lifted its stake in Ultralife by 1,728.3% in the 2nd quarter. Rhumbline Advisers now owns 11,811 shares of the technology company’s stock worth $125,000 after purchasing an additional 11,165 shares in the last quarter. Perritt Capital Management Inc. lifted its stake in Ultralife by 25.0% in the 1st quarter. Perritt Capital Management Inc. now owns 15,000 shares of the technology company’s stock worth $132,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Juncture Wealth Strategies LLC purchased a new stake in Ultralife in the 3rd quarter worth $165,000. 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.