Ultralife (NASDAQ:ULBI) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Ultralife shares rose above their 200-day moving average, reaching $6.60 before last trading at $6.54, compared with a 200-day average of $6.39.
• Despite the technical move, analyst sentiment remains negative: Weiss Ratings reiterated a “sell” rating, and MarketBeat reports a consensus rating of “Sell.”
• The company met quarterly EPS estimates at $0.19 but missed revenue expectations, reporting $47.94 million versus the projected $55.00 million; institutional investors and hedge funds own 30.68% of the stock.

Ultralife Corporation (NASDAQ:ULBI - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $6.39 and traded as high as $6.60. Ultralife shares last traded at $6.54, with a volume of 17,640 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of Ultralife in a report on Wednesday, September 9th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Ultralife has a consensus rating of "Sell".

Ultralife Price Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.30. The company has a 50 day moving average price of $6.20 and a 200 day moving average price of $6.39. The firm has a market cap of $108.98 million, a PE ratio of -16.35 and a beta of 0.78.

Ultralife (NASDAQ:ULBI - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The technology company reported $0.19 earnings per share for the quarter, meeting analysts' consensus estimates of $0.19. The firm had revenue of $47.94 million for the quarter, compared to analyst estimates of $55.00 million. Ultralife had a negative net margin of 3.50% and a positive return on equity of 2.75%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. IFP Advisors Inc lifted its position in Ultralife by 100.0% in the second quarter. IFP Advisors Inc now owns 6,000 shares of the technology company's stock valued at $38,000 after purchasing an additional 3,000 shares during the period. Man Group plc purchased a new stake in Ultralife in the 2nd quarter valued at approximately $213,000. Ancora Advisors LLC acquired a new position in Ultralife during the 2nd quarter worth approximately $355,000. Visionary Wealth Advisors acquired a new position in Ultralife during the 2nd quarter worth approximately $7,010,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Ultralife during the 2nd quarter worth approximately $980,000. 30.68% of the stock is currently owned by institutional investors and hedge funds.

About Ultralife

Ultralife Corporation NASDAQ: ULBI develops and manufactures portable power and communications products for government, defense, industrial, medical and public-safety customers. The company's offerings are designed for applications that require reliable power and communications in demanding or remote environments.

Its battery business includes non-rechargeable and rechargeable lithium batteries, battery packs, chargers, and power systems. Ultralife also provides accessories and related power-management products for military equipment, electronic devices and other specialized applications.

Through its communications operations, Ultralife supplies products such as tactical communications equipment, amplifiers, power supplies and related systems.

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