Ultralife (NASDAQ:ULBI) Receives Hold (C-) Rating from Weiss Ratings

Key Points

• Ultralife's stock has received a "hold (C-)" rating from Weiss Ratings, indicating a cautious stance on the company's share performance.
• The company reported $0.07 earnings per share in its last quarter, falling short of the consensus estimate of $0.14.
• Insiders have been active in the market, purchasing 58,664 shares of Ultralife stock worth approximately $387,049 over the last ninety days.

Ultralife (NASDAQ:ULBI - Get Free Report)'s stock had its "hold (c-)" rating reaffirmed by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen lowered shares of Ultralife from a "strong-buy" rating to a "hold" rating in a research note on Saturday, September 13th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Ultralife currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.00.

Ultralife Trading Up 2.2%

Shares of ULBI traded up $0.15 during mid-day trading on Wednesday, reaching $6.84. 24,925 shares of the company's stock traded hands, compared to its average volume of 42,110. The stock's 50-day moving average is $6.98 and its two-hundred day moving average is $6.68. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.31 and a quick ratio of 1.62. The stock has a market cap of $113.82 million, a P/E ratio of 36.00 and a beta of 1.06. Ultralife has a 12 month low of $4.07 and a 12 month high of $9.61.

Ultralife (NASDAQ:ULBI - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.07). The company had revenue of $48.56 million for the quarter, compared to analyst estimates of $51.00 million. Ultralife had a return on equity of 2.68% and a net margin of 1.79%.

Insider Activity

In related news, Director Bradford T. Whitmore purchased 29,766 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was purchased at an average cost of $6.63 per share, for a total transaction of $197,348.58. Following the completion of the purchase, the director directly owned 1,128,731 shares in the company, valued at $7,483,486.53. This trade represents a 2.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought 58,664 shares of company stock worth $387,049 in the last ninety days. 40.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ultralife

Large investors have recently made changes to their positions in the stock. Lazard Asset Management LLC boosted its holdings in shares of Ultralife by 1,650.0% in the second quarter. Lazard Asset Management LLC now owns 5,565 shares of the technology company's stock worth $49,000 after acquiring an additional 5,247 shares during the period. Bank of America Corp DE boosted its holdings in shares of Ultralife by 30.7% during the 4th quarter. Bank of America Corp DE now owns 12,067 shares of the technology company's stock valued at $90,000 after purchasing an additional 2,836 shares during the last quarter. IFP Advisors Inc boosted its stake in Ultralife by 24.6% in the first quarter. IFP Advisors Inc now owns 14,200 shares of the technology company's stock valued at $76,000 after acquiring an additional 2,800 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Ultralife during the second quarter worth $134,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Ultralife by 1,428.7% during the first quarter. Jones Financial Companies Lllp now owns 15,287 shares of the technology company's stock worth $82,000 after purchasing an additional 14,287 shares during the last quarter. 30.68% of the stock is owned by institutional investors.

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.

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