Ultralife (NASDAQ:ULBI) Posts Quarterly Earnings Results

Ultralife (NASDAQ:ULBI) released its quarterly earnings data on Monday. The technology company reported ($0.07) EPS for the quarter, Zacks reports. Ultralife had a return on equity of 2.68% and a net margin of 1.79%.The firm had revenue of $43.37 million for the quarter.

Ultralife Price Performance

Shares of NASDAQ ULBI opened at $5.05 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.31 and a quick ratio of 1.62. Ultralife has a 1-year low of $4.07 and a 1-year high of $9.52. The company has a market capitalization of $84.05 million, a price-to-earnings ratio of 26.58 and a beta of 1.02. The business has a 50-day moving average of $6.69 and a 200-day moving average of $7.10.

Wall Street Analyst Weigh In

ULBI has been the subject of several research analyst reports. Wall Street Zen lowered Ultralife from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ultralife in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Insiders Place Their Bets

In other news, Director Bradford T. Whitmore acquired 29,766 shares of the stock in a transaction on Thursday, August 21st. The stock was bought at an average price of $6.63 per share, with a total value of $197,348.58. Following the completion of the transaction, the director directly owned 1,128,731 shares of the company’s stock, valued at $7,483,486.53. The trade was a 2.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 40.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ultralife

Large investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its holdings in Ultralife by 1,650.0% in the 2nd quarter. Lazard Asset Management LLC now owns 5,565 shares of the technology company’s stock worth $49,000 after buying an additional 5,247 shares in the last quarter. Prelude Capital Management LLC purchased a new stake in shares of Ultralife during the third quarter worth about $71,000. Bank of America Corp DE lifted its stake in shares of Ultralife by 30.7% in the fourth quarter. Bank of America Corp DE now owns 12,067 shares of the technology company’s stock worth $90,000 after acquiring an additional 2,836 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in Ultralife in the second quarter valued at about $134,000. Finally, Jones Financial Companies Lllp boosted its holdings in Ultralife by 1,428.7% in the first quarter. Jones Financial Companies Lllp now owns 15,287 shares of the technology company’s stock valued at $82,000 after purchasing an additional 14,287 shares during the last quarter. 30.68% of the stock is owned by institutional investors and hedge funds.

Ultralife Company Profile

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.