Ultralife (NASDAQ:ULBI) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Ultralife Corporation (NASDAQ:ULBI) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.25 and traded as high as $6.54. Ultralife shares last traded at $6.52, with a volume of 33,091 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ultralife in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Ultralife currently has an average rating of “Sell”.

Ultralife Price Performance

The company has a fifty day moving average price of $6.22 and a two-hundred day moving average price of $6.25. The company has a current ratio of 2.83, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The company has a market cap of $108.60 million, a price-to-earnings ratio of -18.11 and a beta of 0.88.

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

Hedge Funds Weigh In On Ultralife

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC lifted its position in shares of Ultralife by 1,650.0% during the second quarter. Lazard Asset Management LLC now owns 5,565 shares of the technology company’s stock worth $49,000 after purchasing an additional 5,247 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Ultralife in the 4th quarter valued at $44,000. Prelude Capital Management LLC acquired a new stake in shares of Ultralife in the 3rd quarter valued at $71,000. Bank of America Corp DE raised its position in shares of Ultralife by 30.7% during the fourth quarter. Bank of America Corp DE now owns 12,067 shares of the technology company’s stock worth $90,000 after acquiring an additional 2,836 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Ultralife during the fourth quarter valued at $75,000. Institutional investors and hedge funds own 30.68% of the company’s stock.

Ultralife Company Profile

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.