Ultralife (NASDAQ:ULBI) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Technical breakout: Ultralife shares crossed above their 200‑day moving average ($6.26), trading as high as $7.63 and last at $7.48 on volume of about 20,166 shares.
• Analyst and fundamental weakness: Weiss Ratings reaffirmed a "Sell (d+)" and the stock has a consensus Sell, after Ultralife missed quarterly estimates (EPS $0.12 vs. $0.24 expected; revenue $48.48M vs. $57.0M) and shows a negative net margin and negative PE.
• Institutional activity: several funds (including Rothschild, Empowered Funds, XTX Topco, Jane Street and Heron Bay) initiated or increased positions in the fourth quarter, and institutions now own about 30.68% of the shares.

Ultralife Corporation (NASDAQ:ULBI - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.26 and traded as high as $7.63. Ultralife shares last traded at $7.48, with a volume of 20,166 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Ultralife in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of "Sell".

Ultralife Price Performance

The stock has a market capitalization of $124.62 million, a PE ratio of -20.78 and a beta of 0.72. The firm's 50 day simple moving average is $6.34 and its 200 day simple moving average is $6.26. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.83 and a quick ratio of 1.39.

Ultralife (NASDAQ:ULBI - Get Free Report) last posted its quarterly earnings results on Tuesday, March 10th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.12). The business had revenue of $48.48 million for the quarter, compared to analysts' expectations of $57.00 million. Ultralife had a positive return on equity of 3.10% and a negative net margin of 3.09%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Empowered Funds LLC purchased a new position in shares of Ultralife during the fourth quarter worth approximately $44,000. XTX Topco Ltd raised its stake in shares of Ultralife by 19.9% during the fourth quarter. XTX Topco Ltd now owns 15,456 shares of the technology company's stock worth $88,000 after acquiring an additional 2,569 shares in the last quarter. Rothschild Wealth LLC purchased a new position in shares of Ultralife during the fourth quarter worth approximately $400,000. Heron Bay Capital Management purchased a new position in shares of Ultralife during the fourth quarter worth approximately $127,000. Finally, Jane Street Group LLC purchased a new position in shares of Ultralife during the fourth quarter worth approximately $75,000. 30.68% of the stock is owned by hedge funds and other institutional investors.

About Ultralife

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.

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