Ultralife (NASDAQ:ULBI) Stock Price Crosses 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 Friday . The stock has a 200-day moving average of $6.44 and traded as high as $8.25. Ultralife shares last traded at $8.13, with a volume of 94,176 shares.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Ultralife from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 6th.

Ultralife Price Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.70 and a current ratio of 3.22. The stock has a market cap of $135.20 million, a PE ratio of 25.41 and a beta of 0.90. The stock’s 50-day moving average is $5.87 and its two-hundred day moving average is $6.44.

Ultralife (NASDAQ:ULBI) last issued its quarterly earnings results on Friday, May 9th. The technology company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02). Ultralife had a net margin of 3.05% and a return on equity of 4.61%. The business had revenue of $50.75 million during the quarter, compared to analysts’ expectations of $54.50 million. During the same period in the prior year, the business earned $0.21 EPS.

Insider Buying and Selling at Ultralife

In other news, Director Thomas Louis Saeli acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was acquired at an average cost of $5.44 per share, with a total value of $27,200.00. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $462,400. This trade represents a 6.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Bradford T. Whitmore acquired 8,957 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The shares were purchased at an average cost of $5.40 per share, with a total value of $48,367.80. Following the completion of the transaction, the director now owns 1,029,884 shares in the company, valued at approximately $5,561,373.60. The trade was a 0.88% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 47,140 shares of company stock valued at $256,355 in the last 90 days. Company insiders own 40.00% of the company’s stock.

Institutional Investors Weigh In On Ultralife

Several institutional investors have recently modified their holdings of ULBI. Visionary Wealth Advisors lifted its position in shares of Ultralife by 17.1% during the 4th quarter. Visionary Wealth Advisors now owns 1,292,836 shares of the technology company’s stock worth $9,632,000 after purchasing an additional 188,384 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Ultralife during the 4th quarter worth $522,000. Renaissance Technologies LLC lifted its position in shares of Ultralife by 11.6% during the 4th quarter. Renaissance Technologies LLC now owns 256,090 shares of the technology company’s stock worth $1,908,000 after purchasing an additional 26,700 shares during the last quarter. Nuveen LLC acquired a new stake in Ultralife during the 1st quarter worth $116,000. Finally, JPMorgan Chase & Co. raised its stake in Ultralife by 45.3% during the 4th quarter. JPMorgan Chase & Co. now owns 68,952 shares of the technology company’s stock worth $514,000 after acquiring an additional 21,494 shares in the last quarter. 30.68% of the stock is owned by hedge funds and other institutional investors.

Ultralife Company Profile

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.