Ultralife (NASDAQ:ULBI – Get Free Report) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.
Separately, Benchmark upped their price target on shares of Ultralife from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th.
View Our Latest Report on ULBI
Ultralife Stock Down 2.6 %
Ultralife (NASDAQ:ULBI – Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The technology company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08. Ultralife had a return on equity of 9.32% and a net margin of 5.96%. The company had revenue of $42.98 million during the quarter.
Hedge Funds Weigh In On Ultralife
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC purchased a new position in shares of Ultralife in the first quarter worth $100,000. Rhumbline Advisers raised its position in Ultralife by 1,728.3% in the 2nd quarter. Rhumbline Advisers now owns 11,811 shares of the technology company’s stock worth $125,000 after buying an additional 11,165 shares during the last quarter. Perritt Capital Management Inc. raised its position in Ultralife by 25.0% in the 1st quarter. Perritt Capital Management Inc. now owns 15,000 shares of the technology company’s stock worth $132,000 after buying an additional 3,000 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in Ultralife during the 1st quarter valued at about $166,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Ultralife during the 1st quarter valued at about $200,000. 30.68% of the stock is owned by institutional investors.
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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