Ultralife (NASDAQ:ULBI) Price Target Raised to $14.00

Ultralife (NASDAQ:ULBI) had its target price lifted by Benchmark from $13.00 to $14.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Separately, StockNews.com cut Ultralife from a strong-buy rating to a buy rating in a research note on Thursday, May 2nd.

Ultralife Trading Up 2.5 %

Shares of ULBI opened at $10.62 on Thursday. The stock has a fifty day moving average price of $11.11 and a two-hundred day moving average price of $9.19. The company has a market cap of $176.50 million, a price-to-earnings ratio of 16.59 and a beta of 0.99. Ultralife has a 52-week low of $4.61 and a 52-week high of $13.39. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.16 and a current ratio of 4.03.

Ultralife (NASDAQ:ULBI) last released its earnings results on Thursday, April 25th. The technology company reported $0.21 EPS for the quarter. The company had revenue of $41.93 million during the quarter. Ultralife had a return on equity of 10.31% and a net margin of 6.19%.

Institutional Investors Weigh In On Ultralife

Institutional investors have recently made changes to their positions in the stock. Barclays PLC acquired a new position in Ultralife in the third quarter valued at about $127,000. Acadian Asset Management LLC bought a new stake in shares of Ultralife in the third quarter valued at about $1,039,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Ultralife in the third quarter valued at about $36,000. Algert Global LLC bought a new stake in shares of Ultralife in the third quarter valued at about $106,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Ultralife in the third quarter valued at about $641,000. 30.68% of the stock is owned by institutional investors and hedge funds.

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.