Ultralife (NASDAQ:ULBI) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Ultralife Corporation (NASDAQ:ULBI) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.26 and traded as high as $7.63. Ultralife shares last traded at $7.48, with a volume of 20,166 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ultralife in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Ultralife Price Performance

The stock has a market capitalization of $124.62 million, a PE ratio of -20.78 and a beta of 0.72. The firm’s 50 day simple moving average is $6.34 and its 200 day simple moving average is $6.26. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.83 and a quick ratio of 1.39.

Ultralife (NASDAQ:ULBI) last posted its quarterly earnings results on Tuesday, March 10th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.12). The business had revenue of $48.48 million for the quarter, compared to analysts’ expectations of $57.00 million. Ultralife had a positive return on equity of 3.10% and a negative net margin of 3.09%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Empowered Funds LLC purchased a new position in shares of Ultralife during the fourth quarter worth approximately $44,000. XTX Topco Ltd raised its stake in shares of Ultralife by 19.9% during the fourth quarter. XTX Topco Ltd now owns 15,456 shares of the technology company’s stock worth $88,000 after acquiring an additional 2,569 shares in the last quarter. Rothschild Wealth LLC purchased a new position in shares of Ultralife during the fourth quarter worth approximately $400,000. Heron Bay Capital Management purchased a new position in shares of Ultralife during the fourth quarter worth approximately $127,000. Finally, Jane Street Group LLC purchased a new position in shares of Ultralife during the fourth quarter worth approximately $75,000. 30.68% of the stock is owned by hedge funds and other institutional investors.

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.