Ultralife (NASDAQ:ULBI) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Ultralife Corporation (NASDAQ:ULBI) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.37 and traded as high as $7.66. Ultralife shares last traded at $7.27, with a volume of 35,846 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Ultralife from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, June 12th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Ultralife currently has an average rating of “Sell”.

Ultralife Stock Performance

The stock has a market capitalization of $120.02 million, a PE ratio of -17.94 and a beta of 0.80. The company has a quick ratio of 1.30, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average price of $6.06 and a 200-day moving average price of $6.38.

Ultralife (NASDAQ:ULBI) last released its earnings results on Friday, August 7th. The technology company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. Ultralife had a positive return on equity of 2.75% and a negative net margin of 3.50%.The firm had revenue of $47.94 million during the quarter, compared to the consensus estimate of $55.00 million.

Insider Buying and Selling

In other Ultralife news, Director Bradford T. Whitmore acquired 67,302 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was acquired at an average cost of $6.81 per share, for a total transaction of $458,326.62. Following the purchase, the director owned 2,050,637 shares in the company, valued at approximately $13,964,837.97. The trade was a 3.39% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 108,878 shares of company stock worth $714,928. Insiders own 42.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ULBI. Bank of America Corp DE boosted its holdings in Ultralife by 30.7% in the fourth quarter. Bank of America Corp DE now owns 12,067 shares of the technology company’s stock valued at $90,000 after purchasing an additional 2,836 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Ultralife by 1,428.7% during the 1st quarter. Jones Financial Companies Lllp now owns 15,287 shares of the technology company’s stock valued at $82,000 after buying an additional 14,287 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Ultralife by 474.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 70,476 shares of the technology company’s stock valued at $633,000 after buying an additional 58,211 shares during the period. Walleye Capital LLC lifted its holdings in shares of Ultralife by 127.2% in the 2nd quarter. Walleye Capital LLC now owns 31,102 shares of the technology company’s stock valued at $279,000 after buying an additional 17,414 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Ultralife in the second quarter worth about $134,000. Hedge funds and other institutional investors own 30.68% of the company’s stock.

Ultralife Company Profile

Ultralife Corporation (NASDAQ: ULBI) develops, manufactures and sells a broad range of energy and communications products for defense, medical, automotive and consumer electronics markets. The company operates through two primary segments: Power Systems and Communications Systems. In its Power Systems segment, Ultralife produces lithium-ion rechargeable cells and battery packs, primary lithium batteries, alkaline and rechargeable battery packs, chargers and battery accessories designed to meet demanding performance and safety requirements.