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

Key Points

• Ultralife (ULBI) crossed above its 200-day moving average — the 200-day MA is $6.24 and the stock traded as high as $6.98, last at $6.84 on the move.
• Market sentiment remains negative with a consensus Sell rating and Weiss Ratings reiterating a "sell (d+)" on the shares.
• The company missed recent quarterly estimates, reporting EPS of $0.12 vs. $0.24 expected and revenue of $48.48M vs. $57.00M, leaving a negative net margin despite a small positive ROE.

Ultralife Corporation (NASDAQ:ULBI - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.24 and traded as high as $6.98. Ultralife shares last traded at $6.84, with a volume of 28,351 shares traded.

Analyst Ratings Changes

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

Ultralife Trading Up 1.5%

The business has a 50 day simple moving average of $6.26 and a 200-day simple moving average of $6.24. The company has a current ratio of 2.83, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $113.95 million, a price-to-earnings ratio of -19.00 and a beta of 0.72.

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

Hedge Funds Weigh In On Ultralife

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC lifted its position in Ultralife by 1,650.0% during the 2nd 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 in the last quarter. Empowered Funds LLC acquired a new position in shares of Ultralife in the 4th quarter valued at approximately $44,000. Prelude Capital Management LLC acquired a new position in shares of Ultralife in the 3rd quarter valued at approximately $71,000. Bank of America Corp DE raised its position in shares of Ultralife by 30.7% in 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. Finally, Jane Street Group LLC acquired a new position in shares of Ultralife in the 4th quarter valued at approximately $75,000. 30.68% of the stock is owned by institutional investors and hedge funds.

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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