Ultralife (NASDAQ:ULBI) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Ultralife Corporation (NASDAQ:ULBI)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.27 and traded as high as $6.63. Ultralife shares last traded at $6.55, with a volume of 24,259 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Ultralife in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Ultralife Stock Performance

The firm has a market cap of $109.06 million, a P/E ratio of -18.19 and a beta of 0.88. 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 company’s 50-day moving average is $6.23 and its two-hundred day moving average is $6.27.

Ultralife (NASDAQ:ULBI) last issued its quarterly earnings data on Tuesday, March 10th. The technology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.12). The company had revenue of $48.48 million for the quarter, compared to the consensus estimate of $57.00 million. Ultralife had a positive return on equity of 3.06% and a negative net margin of 3.09%.

Institutional Investors Weigh In On Ultralife

Several institutional investors have recently bought and sold shares of ULBI. Lazard Asset Management LLC raised its position 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 during the last quarter. Empowered Funds LLC purchased a new position in Ultralife during the 4th quarter worth $44,000. Prelude Capital Management LLC purchased a new position in Ultralife during the 3rd quarter worth $71,000. Bank of America Corp DE grew its stake in shares of Ultralife by 30.7% in 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. Finally, Jane Street Group LLC bought a new stake in shares of Ultralife in the 4th quarter worth $75,000. Institutional investors own 30.68% of the company’s stock.

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.