Ultralife (NASDAQ:ULBI) Releases Earnings Results

Key Points

• Ultralife reported earnings of $0.07 EPS, missing analysts' expectations by $0.07, and generated revenue of $48.56 million against a forecast of $51 million.
• The company's stock price fell 4.2% to $6.49 following the earnings report, with a market capitalization of approximately $107.87 million.
• Insider trading activity included purchases by directors, with insiders owning 40% of the company's stock, reflecting confidence in its prospects.

Ultralife (NASDAQ:ULBI - Get Free Report) announced its quarterly earnings results on Thursday. The technology company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.07), Zacks reports. The firm had revenue of $48.56 million during the quarter, compared to the consensus estimate of $51.00 million. Ultralife had a net margin of 1.79% and a return on equity of 2.68%.

Ultralife Price Performance

Shares of Ultralife stock traded up $0.06 on Tuesday, hitting $6.86. 4,909 shares of the company traded hands, compared to its average volume of 81,014. The firm's 50-day simple moving average is $8.25 and its 200 day simple moving average is $6.62. The company has a current ratio of 3.31, a quick ratio of 1.62 and a debt-to-equity ratio of 0.34. The company has a market cap of $114.07 million, a P/E ratio of 36.08 and a beta of 1.00. Ultralife has a 12-month low of $4.07 and a 12-month high of $11.48.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Ultralife

In other Ultralife news, Director Bradford T. Whitmore bought 11,980 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were bought at an average price of $5.41 per share, for a total transaction of $64,811.80. Following the transaction, the director directly owned 1,060,067 shares in the company, valued at $5,734,962.47. This trade represents a 1.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas Louis Saeli bought 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was acquired at an average price of $5.44 per share, for a total transaction of $27,200.00. Following the transaction, the director owned 85,000 shares in the company, valued at $462,400. This trade represents a 6.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 35,183 shares of company stock worth $192,117. Corporate insiders own 40.00% of the company's stock.

Hedge Funds Weigh In On Ultralife

An institutional investor recently raised its position in Ultralife stock. Bank of America Corp DE increased its holdings in Ultralife Corporation (NASDAQ:ULBI - Free Report) by 30.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,067 shares of the technology company's stock after purchasing an additional 2,836 shares during the quarter. Bank of America Corp DE owned 0.07% of Ultralife worth $90,000 as of its most recent filing with the Securities & Exchange Commission. 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.