Ultralife (NASDAQ:ULBI) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Ultralife Corporation's shares have risen above their 200-day moving average of $6.59, reaching a high of $7.18 during trading on Tuesday, with the last trade occurring at $6.90.
• The stock was recently downgraded from a "strong-buy" to a "hold" rating, whereas analysts maintain an average rating of "Buy" with a consensus price target of $14.00.
• Company insiders, including Director Bradford T. Whitmore, have purchased shares recently, increasing their holdings and indicating confidence in the company's future, as insiders now own 40.00% of the stock.

Ultralife Corporation (NASDAQ:ULBI - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.59 and traded as high as $7.18. Ultralife shares last traded at $6.90, with a volume of 34,552 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Ultralife from a "strong-buy" rating to a "hold" rating in a report on Saturday, September 13th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $14.00.

Ultralife Trading Down 2.3%

The stock has a market cap of $114.84 million, a price-to-earnings ratio of 36.32 and a beta of 1.08. The firm's 50 day moving average is $7.39 and its two-hundred day moving average is $6.59. The company has a quick ratio of 1.62, a current ratio of 3.31 and a debt-to-equity ratio of 0.34.

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

Insiders Place Their Bets

In other Ultralife news, Director Bradford T. Whitmore bought 29,766 shares of Ultralife stock in a transaction that occurred on Thursday, August 21st. The stock was purchased at an average cost of $6.63 per share, for a total transaction of $197,348.58. Following the completion of the acquisition, the director owned 1,128,731 shares of the company's stock, valued at approximately $7,483,486.53. This represents a 2.71% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased 58,664 shares of company stock worth $387,049 in the last ninety days. Company insiders own 40.00% of the company's stock.

Institutional Trading of Ultralife

A number of large investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC lifted its position in shares of Ultralife by 59.1% in the 4th quarter. Nuveen Asset Management LLC now owns 21,647 shares of the technology company's stock valued at $161,000 after acquiring an additional 8,037 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of 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. Squarepoint Ops LLC raised its holdings in shares of Ultralife by 47.1% during the 4th quarter. Squarepoint Ops LLC now owns 42,261 shares of the technology company's stock valued at $315,000 after purchasing an additional 13,538 shares in the last quarter. Northern Trust Corp grew its stake in Ultralife by 8.0% in 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 during the last quarter. Finally, Nuveen LLC acquired a new position in Ultralife in the 1st quarter valued at $116,000. 30.68% of the stock is currently owned by institutional investors.

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.

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