Ultralife (NASDAQ:ULBI) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Ultralife Corporation's stock has recently surpassed its 200-day moving average, indicating potential upward momentum, with recent trading at $6.51 per share.
• Analysts upgraded Ultralife's stock rating from "buy" to "strong-buy," reflecting increased confidence in the company's future performance.
• The company recently reported earnings, with an EPS of $0.07, which missed consensus estimates of $0.14, alongside revenue figures that also fell short of expectations.

Shares of Ultralife Corporation (NASDAQ:ULBI - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.60 and traded as high as $6.77. Ultralife shares last traded at $6.51, with a volume of 22,330 shares changing hands.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Ultralife from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Ultralife currently has an average rating of "Buy" and a consensus target price 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 stock's 50 day moving average price is $8.09 and its two-hundred day moving average price is $6.57. The firm has a market capitalization of $110.82 million, a PE ratio of 35.05 and a beta of 1.00.

Ultralife (NASDAQ:ULBI - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $0.07 earnings per share 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 business had revenue of $48.56 million for the quarter, compared to analysts' expectations of $51.00 million.

Insider Buying and Selling at Ultralife

In other Ultralife news, Director Bradford T. Whitmore acquired 29,766 shares of the company's stock in a transaction dated Thursday, August 21st. The stock was acquired at an average cost of $6.63 per share, with a total value of $197,348.58. Following the purchase, 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have purchased 70,644 shares of company stock worth $451,861. Company insiders own 40.00% of the company's stock.

Institutional Trading of Ultralife

Several hedge funds and other institutional investors have recently bought and sold shares of ULBI. Lazard Asset Management LLC grew its stake in Ultralife by 1,650.0% in 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 during the period. IFP Advisors Inc grew its stake in Ultralife by 24.6% in the 1st 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 during the period. Jones Financial Companies Lllp grew its stake in Ultralife by 1,428.7% in the 1st quarter. Jones Financial Companies Lllp now owns 15,287 shares of the technology company's stock worth $82,000 after acquiring an additional 14,287 shares during the period. Bank of America Corp DE grew its stake in Ultralife by 30.7% in the 4th quarter. Bank of America Corp DE now owns 12,067 shares of the technology company's stock worth $90,000 after acquiring an additional 2,836 shares during the period. Finally, Barclays PLC grew its stake in Ultralife by 13.7% in the 4th quarter. Barclays PLC now owns 15,233 shares of the technology company's stock worth $113,000 after acquiring an additional 1,838 shares during the period. 30.68% of the stock is owned by hedge funds and other institutional investors.

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.