Ultralife Corp. (NASDAQ: ULBI) is a power solutions company that develops battery and energy products. These include non-rechargeable and rechargeable lithium batteries, as well as UPS systems, accessories, and charging systems. With lithium battery technology key to the consumer electronics market as well as the emerging electric vehicle market, Ultralife is a valuable bargain investment.
There’s strong momentum behind this stock today. At the close of the market on Wednesday, it was up 11.60% over the previous month. Analysts are still maintaining their BUY ratings, despite the stock crushing its $3.25 target price. Investors looking to gain from the momentum, even as the NASDAQ is going through a correction, can still purchase Ultralife shares below $10.
Ignoring short-term movement, Ultralife has long-term potential thanks to its strong presence in the lithium battery market. Its advanced technologies and easily marketable products can be targeted directly at consumers as well as OEM companies. The stock is trading around 80% below its fair market value today, suggesting that target prices will be revised. Affordable and with growth behind it, this is a top alternative pick for March.
- 1 Year Price Growth: 62%
- YTD Price Growth: 40%
- 3 Month Price Growth: 74%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.