Ultralife (NASDAQ:ULBI) Given Buy Rating at Benchmark

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

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

Ultralife Price Performance

NASDAQ ULBI traded down $0.31 during trading hours on Friday, reaching $7.36. 102,985 shares of the stock traded hands, compared to its average volume of 79,956. Ultralife has a 1 year low of $6.36 and a 1 year high of $13.39. The company has a market cap of $122.40 million, a price-to-earnings ratio of 13.38 and a beta of 0.98. The stock has a 50 day simple moving average of $8.97 and a two-hundred day simple moving average of $10.25. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.30 and a quick ratio of 2.06.

Institutional Investors Weigh In On Ultralife

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC bought a new position in shares of Ultralife during the 1st quarter valued at about $100,000. Barclays PLC increased its position in Ultralife by 21.3% during 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 during the period. Rhumbline Advisers raised its stake in Ultralife by 1,728.3% in the second quarter. Rhumbline Advisers now owns 11,811 shares of the technology company’s stock worth $125,000 after buying an additional 11,165 shares in the last quarter. Perritt Capital Management Inc. lifted its stake in shares of Ultralife by 25.0% during the 1st quarter. Perritt Capital Management Inc. now owns 15,000 shares of the technology company’s stock worth $132,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Juncture Wealth Strategies LLC bought a new stake in shares of Ultralife in the 3rd quarter valued at about $165,000. Hedge funds and other institutional investors 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.