Ultralife’s (ULBI) Buy Rating Reaffirmed at Benchmark

Ultralife (NASDAQ:ULBI)‘s stock had its “buy” rating restated by equities researchers at Benchmark in a research note issued to investors on Friday,Benzinga reports. They presently have a $14.00 price objective on the technology company’s stock. Benchmark’s target price points to a potential upside of 81.82% from the company’s previous close.

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

Ultralife Stock Up 0.4 %

Shares of Ultralife stock traded up $0.03 during trading on Friday, reaching $7.70. The company had a trading volume of 2,821 shares, compared to its average volume of 79,505. The company has a market cap of $128.05 million, a price-to-earnings ratio of 14.00 and a beta of 0.98. The firm’s fifty day moving average is $9.01 and its 200-day moving average is $10.28. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.06 and a current ratio of 3.30. Ultralife has a fifty-two week low of $6.36 and a fifty-two week high of $13.39.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC bought a new stake in Ultralife in the first quarter worth about $100,000. Rhumbline Advisers lifted its position in shares of Ultralife by 1,728.3% in the 2nd quarter. Rhumbline Advisers now owns 11,811 shares of the technology company’s stock valued at $125,000 after acquiring an additional 11,165 shares in the last quarter. Perritt Capital Management Inc. lifted its holdings 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 in the last quarter. Juncture Wealth Strategies LLC acquired a new stake in Ultralife during the 3rd quarter worth about $165,000. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Ultralife in the first quarter worth $166,000. Institutional investors and hedge funds 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.