Ultralife (NASDAQ:ULBI) Stock Passes Above 200-Day Moving Average of $5.12

Ultralife Co. (NASDAQ:ULBI) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.12 and traded as high as $10.51. Ultralife shares last traded at $10.00, with a volume of 365,403 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on ULBI. TheStreet upgraded shares of Ultralife from a “d+” rating to a “c-” rating in a report on Wednesday, July 12th. Benchmark reiterated a “buy” rating and set a $12.00 target price on shares of Ultralife in a research report on Tuesday, August 8th. Finally, StockNews.com began coverage on shares of Ultralife in a research report on Wednesday, August 23rd. They set a “strong-buy” rating for the company.

Ultralife Price Performance

The company has a quick ratio of 1.43, a current ratio of 3.01 and a debt-to-equity ratio of 0.19. The company has a market cap of $161.51 million, a price-to-earnings ratio of 58.82 and a beta of 1.37. The company’s fifty day moving average price is $6.84 and its two-hundred day moving average price is $5.12.

Ultralife (NASDAQ:ULBI) last posted its quarterly earnings results on Thursday, July 27th. The technology company reported $0.29 earnings per share for the quarter. The business had revenue of $42.69 million for the quarter. Ultralife had a return on equity of 3.92% and a net margin of 1.76%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Northern Trust Corp grew its stake in shares of Ultralife by 7.2% in the second quarter. Northern Trust Corp now owns 23,590 shares of the technology company’s stock worth $114,000 after purchasing an additional 1,592 shares during the last quarter. State Street Corp lifted its holdings in shares of Ultralife by 6.9% in the first quarter. State Street Corp now owns 40,120 shares of the technology company’s stock valued at $215,000 after purchasing an additional 2,596 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Ultralife by 2.0% in the 2nd quarter. BlackRock Inc. now owns 145,230 shares of the technology company’s stock worth $703,000 after buying an additional 2,873 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Ultralife by 5.1% in the 1st quarter. Renaissance Technologies LLC now owns 176,690 shares of the technology company’s stock worth $710,000 after buying an additional 8,600 shares during the last quarter. Finally, Shikiar Asset Management Inc. bought a new stake in shares of Ultralife in the 1st quarter worth approximately $40,000. Institutional investors own 25.84% of the company’s stock.

About Ultralife

Ultralife Corporation, together with its subsidiaries, designs, manufactures, installs, and maintains power, and communication and electronics systems worldwide. The company operates in two segments, Battery & Energy Products and Communications Systems. The Battery & Energy Products segment offers lithium 9-volt, cylindrical, thin lithium manganese dioxide, rechargeable, and other non-rechargeable batteries; lithium-ion cells, multi-kilowatt module lithium-ion battery systems, and uninterruptable power supplies; and rugged military and commercial battery charging systems and accessories, including smart chargers, multi-bay charging systems, and various cables.