Benchmark Reiterates “Buy” Rating for Ultralife (NASDAQ:ULBI)

Benchmark reissued their buy rating on shares of Ultralife (NASDAQ:ULBI) in a research report released on Friday morning,Benzinga reports. Benchmark currently has a $14.00 price objective on the technology company’s stock.

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

Ultralife Price Performance

ULBI traded down $0.31 during trading on Friday, reaching $7.36. The company’s stock had a trading volume of 102,985 shares, compared to its average volume of 79,956. The company has a quick ratio of 2.06, a current ratio of 3.30 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $8.97 and a two-hundred day simple moving average of $10.25. The company has a market cap of $122.40 million, a price-to-earnings ratio of 13.38 and a beta of 0.98. Ultralife has a 1 year low of $6.36 and a 1 year high of $13.39.

Institutional Trading of Ultralife

Hedge funds have recently modified their holdings of the business. ClariVest Asset Management LLC raised its position in shares of Ultralife by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 66,657 shares of the technology company’s stock worth $708,000 after purchasing an additional 1,864 shares during the last quarter. Empowered Funds LLC lifted its position in Ultralife by 7.8% during the first quarter. Empowered Funds LLC now owns 31,396 shares of the technology company’s stock valued at $277,000 after buying an additional 2,275 shares in the last quarter. Barclays PLC increased its holdings in Ultralife by 21.3% in the 3rd quarter. Barclays PLC now owns 13,395 shares of the technology company’s stock valued at $121,000 after purchasing an additional 2,355 shares in the last quarter. Geode Capital Management LLC lifted its position in Ultralife by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 232,681 shares of the technology company’s stock worth $2,104,000 after acquiring an additional 2,835 shares in the last quarter. Finally, Perritt Capital Management Inc. boosted its stake in shares of Ultralife by 25.0% in the first quarter. Perritt Capital Management Inc. now owns 15,000 shares of the technology company’s stock valued at $132,000 after purchasing an additional 3,000 shares during the period. 30.68% of the stock is owned by institutional investors and hedge funds.

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.