StockNews.com lowered shares of Ultralife (NASDAQ:ULBI – Free Report) from a strong-buy rating to a buy rating in a research report released on Tuesday morning.
Separately, Benchmark boosted their price target on Ultralife from $12.00 to $13.00 and gave the company a buy rating in a research note on Tuesday, March 5th.
View Our Latest Analysis on ULBI
Ultralife Price Performance
Ultralife (NASDAQ:ULBI – Get Free Report) last released its earnings results on Thursday, February 15th. The technology company reported $0.18 earnings per share for the quarter. Ultralife had a return on equity of 7.36% and a net margin of 4.54%. The company had revenue of $44.55 million for the quarter.
Institutional Investors Weigh In On Ultralife
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Ultralife during the third quarter worth approximately $36,000. Citigroup Inc. acquired a new position in shares of Ultralife in the third quarter valued at $74,000. Victory Capital Management Inc. acquired a new position in shares of Ultralife in the fourth quarter valued at $59,000. Virtu Financial LLC acquired a new position in shares of Ultralife in the fourth quarter valued at $72,000. Finally, Algert Global LLC acquired a new position in Ultralife during the third quarter worth $106,000. 30.68% of the stock is currently owned by institutional investors and hedge funds.
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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