Ultralife (NASDAQ:ULBI) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Ultralife Corporation (NASDAQ:ULBI)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.59 and traded as high as $6.63. Ultralife shares last traded at $6.59, with a volume of 22,266 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Ultralife in a research report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Ultralife currently has a consensus rating of “Sell”.

Ultralife Trading Up 1.5%

The company has a current ratio of 2.99, a quick ratio of 1.42 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $109.72 million, a P/E ratio of 65.90 and a beta of 0.88. The business has a 50 day moving average of $5.99 and a 200-day moving average of $6.59.

Ultralife (NASDAQ:ULBI) last released its quarterly earnings results on Monday, November 17th. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.28). Ultralife had a net margin of 0.92% and a return on equity of 1.66%. The company had revenue of $43.37 million during the quarter, compared to analyst estimates of $53.00 million.

Insider Activity

In other news, Director Bradford T. Whitmore acquired 28,588 shares of Ultralife stock in a transaction dated Tuesday, December 16th. The stock was bought at an average cost of $5.70 per share, with a total value of $162,951.60. Following the completion of the transaction, the director directly owned 1,235,631 shares of the company’s stock, valued at approximately $7,043,096.70. This represents a 2.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders bought 56,750 shares of company stock valued at $320,700. Company insiders own 40.00% of the company’s stock.

Institutional Investors Weigh In On Ultralife

A number of hedge funds and other institutional investors have recently bought and sold shares of ULBI. Lazard Asset Management LLC boosted its position in 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 during the last quarter. Prelude Capital Management LLC bought a new stake in shares of Ultralife in the third quarter worth $71,000. Jones Financial Companies Lllp boosted its holdings in Ultralife by 1,428.7% during the first quarter. Jones Financial Companies Lllp now owns 15,287 shares of the technology company’s stock worth $82,000 after purchasing an additional 14,287 shares during the last quarter. Bank of America Corp DE boosted its holdings in Ultralife by 30.7% during the fourth quarter. Bank of America Corp DE now owns 12,067 shares of the technology company’s stock worth $90,000 after purchasing an additional 2,836 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in Ultralife in the third quarter valued at $109,000. 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.