Insider Buying: Ultralife Co. (NASDAQ:ULBI) Director Buys 11,980 Shares of Stock

Ultralife Co. (NASDAQ:ULBI - Get Free Report) Director Bradford T. Whitmore bought 11,980 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average cost of $5.41 per share, for a total transaction of $64,811.80. Following the completion of the acquisition, the director now owns 1,060,067 shares of the company's stock, valued at $5,734,962.47. This trade represents a 1.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Ultralife Price Performance

NASDAQ:ULBI traded up $0.05 during mid-day trading on Monday, reaching $6.72. 63,731 shares of the stock were exchanged, compared to its average volume of 70,594. The business has a fifty day moving average price of $5.00 and a 200 day moving average price of $6.40. The firm has a market capitalization of $111.77 million, a PE ratio of 12.22 and a beta of 0.77. Ultralife Co. has a 1-year low of $4.07 and a 1-year high of $12.40. The company has a current ratio of 3.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.04.

Ultralife (NASDAQ:ULBI - Get Free Report) last released its earnings results on Friday, May 9th. The technology company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.02). The firm had revenue of $50.75 million for the quarter, compared to analyst estimates of $54.50 million. Ultralife had a return on equity of 7.92% and a net margin of 5.44%. During the same period in the previous year, the firm earned $0.21 earnings per share.

Analyst Ratings Changes

Separately, Wall Street Zen raised Ultralife from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Ultralife by 250.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 47,458 shares of the technology company's stock worth $429,000 after purchasing an additional 33,929 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Ultralife by 0.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 447,000 shares of the technology company's stock worth $3,330,000 after purchasing an additional 3,850 shares in the last quarter. IFP Advisors Inc purchased a new position in Ultralife in the 4th quarter worth about $85,000. Bank of New York Mellon Corp increased its stake in Ultralife by 35.7% in the 4th quarter. Bank of New York Mellon Corp now owns 43,541 shares of the technology company's stock worth $324,000 after purchasing an additional 11,448 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Ultralife in the 4th quarter worth about $522,000. 30.68% of the stock is owned by institutional investors and hedge funds.

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.