Ultralife (NASDAQ:ULBI) Upgraded to Strong-Buy by StockNews.com

Ultralife (NASDAQ:ULBI - Get Free Report) was upgraded by research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Wednesday.

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

Ultralife Stock Up 3.8 %

NASDAQ:ULBI traded up $0.32 during mid-day trading on Wednesday, reaching $8.73. The stock had a trading volume of 46,509 shares, compared to its average volume of 58,867. The business's 50 day moving average is $9.11 and its 200 day moving average is $8.18. Ultralife has a fifty-two week low of $3.92 and a fifty-two week high of $11.85. The stock has a market cap of $143.61 million, a P/E ratio of 19.84 and a beta of 1.26. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.80 and a quick ratio of 2.02.

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

Hedge Funds Weigh In On Ultralife

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Visionary Wealth Advisors grew its holdings in Ultralife by 0.9% during the fourth quarter. Visionary Wealth Advisors now owns 1,082,246 shares of the technology company's stock valued at $7,381,000 after purchasing an additional 9,997 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Ultralife by 3.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 399,100 shares of the technology company's stock valued at $2,722,000 after acquiring an additional 13,100 shares during the period. EAM Investors LLC bought a new stake in shares of Ultralife in the third quarter valued at approximately $1,776,000. Acadian Asset Management LLC bought a new stake in shares of Ultralife in the third quarter valued at approximately $1,039,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Ultralife in the third quarter valued at approximately $641,000. Institutional investors and hedge funds own 30.68% of the company's stock.

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.

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