Ultralife (NASDAQ:ULBI) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Ultralife (NASDAQ:ULBIGet Rating) in a research report report published on Monday. The brokerage issued a strong-buy rating on the technology company’s stock.

Ultralife Stock Performance

Shares of ULBI opened at $4.51 on Monday. The stock has a 50-day simple moving average of $4.94 and a 200-day simple moving average of $4.83. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.36 and a current ratio of 2.81. The stock has a market capitalization of $72.75 million, a PE ratio of -75.15 and a beta of 1.22. Ultralife has a 1 year low of $4.16 and a 1 year high of $6.38.

Hedge Funds Weigh In On Ultralife

Hedge funds and other institutional investors have recently made changes to their positions in the stock. LSV Asset Management purchased a new position in shares of Ultralife in the 3rd quarter valued at about $62,000. Shikiar Asset Management Inc. boosted its stake in shares of Ultralife by 75.0% in the 3rd quarter. Shikiar Asset Management Inc. now owns 17,500 shares of the technology company’s stock valued at $84,000 after buying an additional 7,500 shares during the period. State Street Corp boosted its stake in shares of Ultralife by 6.9% in the 1st quarter. State Street Corp now owns 40,120 shares of the technology company’s stock valued at $215,000 after buying an additional 2,596 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Ultralife by 5.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 481,974 shares of the technology company’s stock valued at $2,328,000 after buying an additional 25,877 shares during the period. Finally, Visionary Wealth Advisors boosted its stake in shares of Ultralife by 1.2% in the 2nd quarter. Visionary Wealth Advisors now owns 970,330 shares of the technology company’s stock valued at $4,415,000 after buying an additional 11,812 shares during the period. Hedge funds and other institutional investors own 27.15% of the company’s stock.

Ultralife Company Profile

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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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