Ultralife (NASDAQ:ULBI) Coverage Initiated at StockNews.com

Posted by on May 3rd, 2023

Research analysts at StockNews.com started coverage on shares of Ultralife (NASDAQ:ULBI – Get Rating) in a research report issued on Wednesday. The brokerage set a “buy” rating on the technology company’s stock.

Ultralife Trading Down 2.7 %

Ultralife stock opened at $4.01 on Wednesday. The company has a current ratio of 2.73, a quick ratio of 1.31 and a debt-to-equity ratio of 0.17. The firm has a market cap of $64.72 million, a PE ratio of -401.00 and a beta of 1.29. The stock’s 50 day simple moving average is $4.03 and its two-hundred day simple moving average is $4.20. Ultralife has a 12 month low of $3.67 and a 12 month high of $5.77.

Ultralife (NASDAQ:ULBI – Get Rating) last issued its earnings results on Thursday, March 2nd. The technology company reported $0.04 earnings per share (EPS) for the quarter. The company had revenue of $36.11 million during the quarter. Ultralife had a positive return on equity of 0.41% and a negative net margin of 0.22%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Shikiar Asset Management Inc. acquired a new position in Ultralife during the 1st quarter worth approximately $40,000. Pitti Group Wealth Management LLC acquired a new position in shares of Ultralife in the 4th quarter valued at $57,000. LSV Asset Management acquired a new position in shares of Ultralife in the 3rd quarter valued at $62,000. Millennium Management LLC acquired a new position in shares of Ultralife in the 4th quarter valued at $99,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Ultralife in the 4th quarter valued at $145,000. Institutional investors and hedge funds own 25.67% of the company’s stock.

About Ultralife

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Ultralife Corp. engages in the manufacture and sale of products for power solutions. It operates through the Battery & Energy Products and Communications System segments. The Battery & Energy Products segment includes Lithium 9-volt, cylindrical, thin cell and various other non-rechargeable batteries, in addition to rechargeable batteries, uninterruptable power supplies, charging systems, and accessories such as cables.

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