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

Ultralife Corporation (NASDAQ:ULBI) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.34 and traded as high as $6.68. Ultralife shares last traded at $6.50, with a volume of 12,879 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Ultralife from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Ultralife Price Performance

The company has a market cap of $109.62 million, a price-to-earnings ratio of -13.16 and a beta of 0.75. The company has a fifty day moving average price of $6.85 and a two-hundred day moving average price of $6.34. The company has a current ratio of 2.56, a quick ratio of 1.23 and a debt-to-equity ratio of 0.34.

Ultralife (NASDAQ:ULBI) last announced its quarterly earnings data 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). Ultralife had a positive return on equity of 1.15% and a negative net margin of 4.37%.The firm had revenue of $47.45 million for the quarter, compared to analyst estimates of $52.40 million.

Insider Buying and Selling at Ultralife

In other news, Director Bradford T. Whitmore acquired 67,302 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were bought at an average price of $6.81 per share, with a total value of $458,326.62. Following the acquisition, the director owned 2,050,637 shares of the company’s stock, valued at $13,964,837.97. This trade represents a 3.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders purchased 108,878 shares of company stock worth $714,928. 42.90% of the stock is currently owned by company insiders.

Institutional Trading of Ultralife

Institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC acquired a new stake in Ultralife in the 4th quarter valued at $44,000. Lazard Asset Management LLC boosted its stake 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 valued at $49,000 after buying an additional 5,247 shares in the last quarter. Prelude Capital Management LLC acquired a new stake in Ultralife in the 3rd quarter valued at $71,000. Jane Street Group LLC acquired a new stake in Ultralife in the 4th quarter valued at $75,000. Finally, Jones Financial Companies Lllp boosted its stake in Ultralife by 1,428.7% in 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 in the last quarter. Institutional investors and hedge funds 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.