Benchmark Reaffirms Buy Rating for Ultralife (NASDAQ:ULBI)

Ultralife (NASDAQ:ULBI)‘s stock had its “buy” rating reaffirmed by stock analysts at Benchmark in a research note issued on Friday,Benzinga reports. They currently have a $14.00 price objective on the technology company’s stock. Benchmark’s price objective would indicate a potential upside of 81.82% from the stock’s current price.

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

Ultralife Price Performance

Shares of NASDAQ:ULBI traded up $0.03 on Friday, hitting $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 PE ratio of 14.00 and a beta of 0.98. The business has a 50 day moving average of $9.01 and a 200 day moving average of $10.28. Ultralife has a 52-week low of $6.36 and a 52-week high of $13.39. The company has a current ratio of 3.30, a quick ratio of 2.06 and a debt-to-equity ratio of 0.04.

Hedge Funds Weigh In On Ultralife

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in Ultralife by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,024,491 shares of the technology company’s stock worth $10,880,000 after purchasing an additional 51,399 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Ultralife by 1.3% in the first quarter. Vanguard Group Inc. now owns 515,840 shares of the technology company’s stock worth $4,545,000 after acquiring an additional 6,640 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Ultralife by 2.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 443,150 shares of the technology company’s stock valued at $4,006,000 after acquiring an additional 10,450 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Ultralife by 9.1% during the 2nd quarter. Renaissance Technologies LLC now owns 242,490 shares of the technology company’s stock valued at $2,575,000 after acquiring an additional 20,300 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Ultralife by 15.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 157,330 shares of the technology company’s stock valued at $1,422,000 after purchasing an additional 21,140 shares in the last quarter. 30.68% of the stock is currently owned by hedge funds and other 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.