Ultralife (NASDAQ:ULBI) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Ultralife Corporation (NASDAQ:ULBI) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.26 and traded as high as $6.61. Ultralife shares last traded at $6.10, with a volume of 90,946 shares changing hands.

Ultralife Trading Up 0.5%

The business has a 50 day simple moving average of $6.69 and a 200-day simple moving average of $6.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.23 and a current ratio of 2.56. The stock has a market capitalization of $101.63 million, a P/E ratio of -12.20 and a beta of 0.74.

Ultralife (NASDAQ:ULBI) last issued its quarterly earnings results on Friday, May 8th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.18). The firm had revenue of $47.45 million for the quarter, compared to the consensus estimate of $52.40 million. Ultralife had a negative net margin of 4.37% and a positive return on equity of 1.15%.

Hedge Funds Weigh In On Ultralife

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd boosted its stake in Ultralife by 19.9% during the 4th quarter. XTX Topco Ltd now owns 15,456 shares of the technology company’s stock valued at $88,000 after purchasing an additional 2,569 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Ultralife by 30.7% during the 4th 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. Pitti Group Wealth Management LLC boosted its stake in shares of Ultralife by 20.0% during the 3rd quarter. Pitti Group Wealth Management LLC now owns 17,981 shares of the technology company’s stock worth $123,000 after acquiring an additional 3,000 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Ultralife by 1,650.0% during the 2nd quarter. Lazard Asset Management LLC now owns 5,565 shares of the technology company’s stock worth $49,000 after acquiring an additional 5,247 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Ultralife during the 4th quarter worth $44,000. 30.68% of the stock is owned by institutional investors.

About Ultralife

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.