Ultralife (NASDAQ:ULBI) Shares Pass Above Two Hundred Day Moving Average - Time to Sell?

Ultralife Corporation (NASDAQ:ULBI - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.54 and traded as high as $8.77. Ultralife shares last traded at $8.62, with a volume of 25,652 shares changing hands.

Analysts Set New Price Targets

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

Ultralife Stock Performance

The company has a current ratio of 3.22, a quick ratio of 1.70 and a debt-to-equity ratio of 0.37. The firm has a fifty day simple moving average of $7.12 and a 200 day simple moving average of $6.54. The stock has a market cap of $143.35 million, a price-to-earnings ratio of 26.94 and a beta of 1.00.

Ultralife (NASDAQ:ULBI - Get Free Report) last issued its earnings results on Friday, May 9th. The technology company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.02). Ultralife had a return on equity of 4.61% and a net margin of 3.05%. The company had revenue of $50.75 million during the quarter, compared to analyst estimates of $54.50 million. During the same period in the previous year, the company posted $0.21 earnings per share.

Insider Buying and Selling

In related news, Director Thomas Louis Saeli bought 5,000 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was acquired at an average cost of $5.44 per share, with a total value of $27,200.00. Following the acquisition, the director owned 85,000 shares in the company, valued at approximately $462,400. This represents a 6.25% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bradford T. Whitmore bought 16,063 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was bought at an average cost of $5.47 per share, with a total value of $87,864.61. Following the completion of the acquisition, the director owned 1,045,947 shares in the company, valued at $5,721,330.09. This represents a 1.56% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 47,140 shares of company stock valued at $256,355. 40.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ultralife

A number of hedge funds have recently modified their holdings of the stock. Bank of America Corp DE increased its holdings in 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 in the last quarter. IFP Advisors Inc increased its holdings in Ultralife by 24.6% during the 1st quarter. IFP Advisors Inc now owns 14,200 shares of the technology company's stock valued at $76,000 after purchasing an additional 2,800 shares in the last quarter. Barclays PLC increased 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 purchasing an additional 1,838 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Ultralife by 1,428.7% during the 1st quarter. Jones Financial Companies Lllp now owns 15,287 shares of the technology company's stock valued at $82,000 after purchasing an additional 14,287 shares in the last quarter. Finally, LSV Asset Management acquired a new stake in Ultralife during the 4th quarter valued at $145,000. 30.68% of the stock is owned by institutional investors and hedge funds.

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.