Insider Buying: Ultralife (NASDAQ:ULBI) Director Buys 8,700 Shares of Stock

Ultralife Corporation (NASDAQ:ULBI) Director Bradford Whitmore purchased 8,700 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was acquired at an average cost of $6.33 per share, for a total transaction of $55,071.00. Following the completion of the purchase, the director owned 1,983,335 shares of the company’s stock, valued at approximately $12,554,510.55. This represents a 0.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Ultralife Price Performance

Shares of NASDAQ:ULBI traded up $0.42 during midday trading on Tuesday, hitting $6.86. The company’s stock had a trading volume of 141,220 shares, compared to its average volume of 47,721. The business’s 50 day simple moving average is $6.75 and its 200 day simple moving average is $6.23. 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 company has a market cap of $114.29 million, a P/E ratio of -13.72 and a beta of 0.74. Ultralife Corporation has a 12-month low of $4.90 and a 12-month high of $9.52.

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

Hedge Funds Weigh In On Ultralife

Several hedge funds and other institutional investors have recently modified their holdings of ULBI. Arrowstreet Capital Limited Partnership lifted its stake in shares of Ultralife by 210.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 219,018 shares of the technology company’s stock worth $1,494,000 after buying an additional 148,542 shares in the last quarter. Teton Advisors LLC purchased a new position in shares of Ultralife in the third quarter worth about $752,000. Rothschild Wealth LLC purchased a new position in shares of Ultralife in the fourth quarter worth about $400,000. Russell Investments Group Ltd. lifted its stake in shares of Ultralife by 4,670.9% in the third quarter. Russell Investments Group Ltd. now owns 48,997 shares of the technology company’s stock worth $334,000 after buying an additional 47,970 shares in the last quarter. Finally, LSV Asset Management lifted its stake in shares of Ultralife by 232.5% in the third quarter. LSV Asset Management now owns 64,500 shares of the technology company’s stock worth $440,000 after buying an additional 45,100 shares in the last quarter. 30.68% of the stock is owned by hedge funds and other institutional investors.

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.