Ultralife (NASDAQ:ULBI) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Shares of Ultralife Corporation (NASDAQ:ULBI) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.28 and traded as high as $7.25. Ultralife shares last traded at $6.91, with a volume of 32,557 shares trading hands.

Analysts Set New Price Targets

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

Ultralife Stock Performance

The stock has a 50-day simple moving average of $6.83 and a 200 day simple moving average of $6.28. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.56 and a quick ratio of 1.23. The company has a market capitalization of $115.12 million, a PE ratio of -13.82 and a beta of 0.75.

Ultralife (NASDAQ:ULBI) last posted its earnings results on Friday, May 8th. The technology company reported ($0.03) 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 analysts’ expectations of $52.40 million. Ultralife had a positive return on equity of 1.15% and a negative net margin of 4.37%.

Insider Buying and Selling

In other news, Director Bradford T. Whitmore bought 67,302 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of $6.81 per share, for a total transaction of $458,326.62. Following the completion of the transaction, the director owned 2,050,637 shares in the company, valued at $13,964,837.97. This trade represents a 3.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 110,878 shares of company stock worth $726,948 in the last quarter. 40.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ultralife

Institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC acquired a new position in shares of Ultralife in the fourth quarter worth $44,000. Lazard Asset Management LLC raised its holdings in shares of Ultralife by 1,650.0% in the second 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 acquired a new position in shares of Ultralife in the third quarter worth $71,000. Jane Street Group LLC acquired a new position in shares of Ultralife in the fourth quarter worth $75,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Ultralife by 1,428.7% in the first quarter. Jones Financial Companies Lllp now owns 15,287 shares of the technology company’s stock worth $82,000 after acquiring an additional 14,287 shares during the last quarter. 30.68% of the stock is owned by institutional investors and hedge funds.

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.