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 report released on Tuesday.

Separately, Benchmark upped their price objective on shares of Ultralife from $12.00 to $13.00 and gave the stock a buy rating in a research report on Tuesday, March 5th.

Ultralife Trading Down 2.4 %

Shares of ULBI opened at $8.81 on Tuesday. Ultralife has a 1-year low of $3.86 and a 1-year high of $11.85. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.80 and a quick ratio of 2.02. The firm has a market capitalization of $144.92 million, a price-to-earnings ratio of 20.02 and a beta of 1.26. The company has a 50-day moving average of $8.45 and a 200 day moving average of $8.32.

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

Hedge Funds Weigh In On Ultralife

Hedge funds have recently modified their holdings of the business. State Street Corp lifted its holdings in Ultralife by 6.9% in the first quarter. State Street Corp now owns 40,120 shares of the technology company’s stock valued at $215,000 after acquiring an additional 2,596 shares during the period. Susquehanna International Group LLP purchased a new stake in Ultralife in the 4th quarter valued at about $145,000. Millennium Management LLC purchased a new stake in Ultralife in the 4th quarter valued at about $99,000. Renaissance Technologies LLC grew its holdings in Ultralife by 5.1% in the 1st quarter. Renaissance Technologies LLC now owns 176,690 shares of the technology company’s stock valued at $710,000 after buying an additional 8,600 shares during the period. Finally, Northern Trust Corp grew its holdings in Ultralife by 7.2% in the 2nd quarter. Northern Trust Corp now owns 23,590 shares of the technology company’s stock valued at $114,000 after buying an additional 1,592 shares during the period. 30.68% of the stock is currently owned by hedge funds and other institutional investors.

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.