Ultralife (NASDAQ:ULBI – Get Free Report) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.
Separately, Benchmark raised their target price on Ultralife from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th.
View Our Latest Analysis on ULBI
Ultralife Trading Down 2.6 %
Ultralife (NASDAQ:ULBI – Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The technology company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.08. The business 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 made changes to their positions in ULBI. ClariVest Asset Management LLC boosted its holdings in Ultralife by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 66,657 shares of the technology company’s stock valued at $708,000 after acquiring an additional 1,864 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Ultralife by 7.8% during the 1st quarter. Empowered Funds LLC now owns 31,396 shares of the technology company’s stock valued at $277,000 after purchasing an additional 2,275 shares in the last quarter. Perritt Capital Management Inc. increased its position in shares of Ultralife by 25.0% during the first quarter. Perritt Capital Management Inc. now owns 15,000 shares of the technology company’s stock valued at $132,000 after buying an additional 3,000 shares during the period. Acadian Asset Management LLC raised its stake in Ultralife by 4.4% in the second quarter. Acadian Asset Management LLC now owns 146,635 shares of the technology company’s stock worth $1,556,000 after buying an additional 6,206 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Ultralife by 1.3% in the first quarter. Vanguard Group Inc. now owns 515,840 shares of the technology company’s stock worth $4,545,000 after buying an additional 6,640 shares during the period. 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.
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