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

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.

Ultralife Corporation (NASDAQ:ULBI - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-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.

Analyst Upgrades and Downgrades

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

Ultralife Stock Performance

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 business's 50 day moving average is $7.96 and its 200 day moving average is $6.54. The stock has a market capitalization of $115.65 million, a PE ratio of 36.58 and a beta of 1.08.

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 return on equity of 2.68% and a net margin of 1.79%.The firm had revenue of $48.56 million for the quarter, compared to analysts' expectations of $51.00 million.

Insiders Place Their Bets

In related news, Director Bradford T. Whitmore acquired 29,766 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was bought at an average price of $6.63 per share, for a total transaction of $197,348.58. Following the acquisition, the director directly owned 1,128,731 shares of the company's stock, valued at $7,483,486.53. This represents a 2.71% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have bought 58,664 shares of company stock worth $387,049. Company insiders own 40.00% of the company's stock.

Institutional Investors Weigh In On Ultralife

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ULBI. Raymond James Financial Inc. bought a new stake in Ultralife during the 4th quarter valued at about $522,000. Barclays PLC lifted its holdings in Ultralife by 13.7% during the 4th quarter. Barclays PLC now owns 15,233 shares of the technology company's stock valued at $113,000 after buying an additional 1,838 shares in the last quarter. Marshall Wace LLP lifted its holdings in Ultralife by 11.6% during the 4th quarter. Marshall Wace LLP now owns 32,885 shares of the technology company's stock valued at $245,000 after buying an additional 3,426 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Ultralife by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,053,613 shares of the technology company's stock valued at $7,849,000 after buying an additional 7,174 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Ultralife by 8.0% during the 4th quarter. Northern Trust Corp now owns 87,633 shares of the technology company's stock valued at $653,000 after buying an additional 6,484 shares in the last quarter. Institutional investors own 30.68% of the company's stock.

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.