Ultralife (NASDAQ:ULBI) Shares Cross Above 200 Day Moving Average – Here’s Why

Ultralife Corporation (NASDAQ:ULBI)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.38 and traded as high as $6.47. Ultralife shares last traded at $6.32, with a volume of 18,428 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Ultralife from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, June 12th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Ultralife currently has a consensus rating of “Sell”.

Ultralife Stock Down 2.2%

The company has a current ratio of 2.56, a quick ratio of 1.23 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $105.29 million, a P/E ratio of -12.64 and a beta of 0.75. The stock’s 50-day simple moving average is $6.81 and its 200-day simple moving average is $6.38.

Ultralife (NASDAQ:ULBI) last posted its earnings results on Friday, May 8th. The technology company reported ($0.03) EPS 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 the consensus estimate of $52.40 million.

Insider Activity at Ultralife

In other Ultralife news, Director Bradford T. Whitmore purchased 67,302 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average cost of $6.81 per share, with a total value of $458,326.62. Following the completion of the transaction, the director owned 2,050,637 shares of the company’s stock, valued at $13,964,837.97. The trade was a 3.39% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders purchased 108,878 shares of company stock worth $714,928 over the last three months. Company insiders own 42.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ULBI. Arrowstreet Capital Limited Partnership boosted its position in 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 purchasing an additional 148,542 shares during the last quarter. Teton Advisors LLC purchased a new stake in shares of Ultralife during the 3rd quarter valued at $752,000. Rothschild Wealth LLC purchased a new stake in shares of Ultralife during the 4th quarter valued at $400,000. Russell Investments Group Ltd. raised its stake in shares of Ultralife by 4,670.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 48,997 shares of the technology company’s stock worth $334,000 after purchasing an additional 47,970 shares during the period. Finally, Ameriprise Financial Inc. bought a new stake in shares of Ultralife during the 2nd quarter worth $331,000. Hedge funds and other 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.