Ultralife (NASDAQ:ULBI) Stock Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• Ultralife Corporation's share price has crossed above its 200-day moving average of $6.56, reaching a high of $7.18 during trading, with shares last priced at $6.93.
• Wall Street analysts have upgraded Ultralife's stock from a "buy" to a "strong-buy" rating, with an average price target of $14.00.
• In recent insider trading, Director Bradford T. Whitmore purchased 29,766 shares at $6.63 each, boosting his ownership stake to over 1.1 million shares.

Shares of Ultralife Corporation (NASDAQ:ULBI - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.56 and traded as high as $7.18. Ultralife shares last traded at $6.93, with a volume of 57,953 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Ultralife from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $14.00.

Ultralife Price Performance

The business has a 50-day simple moving average of $7.96 and a 200 day simple moving average of $6.55. The stock has a market cap of $115.68 million, a P/E ratio of 36.58 and a beta of 1.00. The company has a current ratio of 3.31, a quick ratio of 1.62 and a debt-to-equity ratio of 0.34.

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

Insider Activity at Ultralife

In other Ultralife news, Director Bradford T. Whitmore bought 29,766 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The shares were bought at an average price of $6.63 per share, for a total transaction of $197,348.58. Following the transaction, the director directly owned 1,128,731 shares in the company, valued at approximately $7,483,486.53. This trade represents a 2.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders bought 58,664 shares of company stock worth $387,049. 40.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ultralife

Institutional investors and hedge funds have recently made changes to their positions in the business. Nuveen Asset Management LLC boosted its holdings in Ultralife by 59.1% in the fourth quarter. Nuveen Asset Management LLC now owns 21,647 shares of the technology company's stock worth $161,000 after acquiring an additional 8,037 shares in the last quarter. IFP Advisors Inc boosted its holdings in Ultralife by 24.6% in the first quarter. IFP Advisors Inc now owns 14,200 shares of the technology company's stock worth $76,000 after acquiring an additional 2,800 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Ultralife by 47.1% in the fourth quarter. Squarepoint Ops LLC now owns 42,261 shares of the technology company's stock worth $315,000 after acquiring an additional 13,538 shares in the last quarter. Northern Trust Corp boosted its holdings in Ultralife by 8.0% in the fourth quarter. Northern Trust Corp now owns 87,633 shares of the technology company's stock worth $653,000 after acquiring an additional 6,484 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Ultralife by 13.7% in the fourth quarter. Barclays PLC now owns 15,233 shares of the technology company's stock worth $113,000 after acquiring an additional 1,838 shares in the last quarter. Institutional investors own 30.68% of the company's stock.

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.