Ultralife (NASDAQ:ULBI) Downgraded by StockNews.com

StockNews.com lowered shares of Ultralife (NASDAQ:ULBI) from a strong-buy rating to a buy rating in a research report released on Saturday morning.

Separately, Benchmark increased their price target on Ultralife from $13.00 to $14.00 and gave the stock a buy rating in a research note on Thursday, June 27th.

Ultralife Stock Down 6.1 %

ULBI stock opened at $10.15 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.06 and a current ratio of 4.07. The company has a market capitalization of $168.71 million, a price-to-earnings ratio of 15.86 and a beta of 0.99. Ultralife has a fifty-two week low of $6.36 and a fifty-two week high of $13.39. The stock has a fifty day moving average of $10.85 and a 200-day moving average of $9.90.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. purchased a new stake in shares of Ultralife in the 4th quarter valued at about $59,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Ultralife during the 1st quarter valued at about $100,000. Rhumbline Advisers raised its holdings in shares of Ultralife by 1,728.3% during the 2nd quarter. Rhumbline Advisers now owns 11,811 shares of the technology company’s stock valued at $125,000 after buying an additional 11,165 shares in the last quarter. Perritt Capital Management Inc. raised its holdings in shares of Ultralife by 25.0% during the 1st 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 in the last quarter. Finally, Pitti Group Wealth Management LLC raised its holdings in shares of Ultralife by 41.3% during the 4th quarter. Pitti Group Wealth Management LLC now owns 18,120 shares of the technology company’s stock valued at $124,000 after buying an additional 5,300 shares in the last quarter. 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.