Ultralife (NASDAQ:ULBI) Stock Passes Above 200 Day Moving Average - Here's Why

Key Points

• Ultralife shares crossed above their 200-day moving average, reaching $7.66 before closing at $7.27, compared with a 200-day average of $6.37.
• The company’s latest quarterly results matched expectations with EPS of $0.19, but revenue of $47.94 million fell short of the $55 million analyst consensus. The stock carries an average analyst rating of “Sell.”
• Insiders bought 108,878 shares worth roughly $714,928 over the past 90 days, while institutional investors own 30.68% of the company; insiders hold a substantial 42.9% stake.

Ultralife Corporation (NASDAQ:ULBI - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.37 and traded as high as $7.66. Ultralife shares last traded at $7.27, with a volume of 35,846 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Ultralife from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, June 12th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of "Sell".

Ultralife Stock Down 3.2%

The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.30. The stock has a market capitalization of $121.12 million, a P/E ratio of -18.17 and a beta of 0.80. The stock's fifty day moving average is $6.05 and its two-hundred day moving average is $6.37.

Ultralife (NASDAQ:ULBI - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $47.94 million for the quarter, compared to analysts' expectations of $55.00 million. Ultralife had a positive return on equity of 2.75% and a negative net margin of 3.50%.

Insider Activity

In related news, Director Bradford T. Whitmore bought 67,302 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were bought at an average cost of $6.81 per share, with a total value of $458,326.62. Following the completion of the transaction, the director directly owned 2,050,637 shares of the company's stock, valued at approximately $13,964,837.97. This trade represents a 3.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders acquired 108,878 shares of company stock valued at $714,928. Insiders own 42.90% of the company's stock.

Hedge Funds Weigh In On Ultralife

A number of hedge funds and other institutional investors have recently modified their holdings of ULBI. Visionary Wealth Advisors purchased a new position in Ultralife in the 2nd quarter worth about $7,010,000. Janney Montgomery Scott LLC lifted its stake in Ultralife by 2.0% during the first quarter. Janney Montgomery Scott LLC now owns 518,000 shares of the technology company's stock valued at $3,377,000 after buying an additional 10,200 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Ultralife by 210.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 219,018 shares of the technology company's stock valued at $1,494,000 after buying an additional 148,542 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Ultralife in the second quarter worth about $980,000. Finally, BlackRock Inc. acquired a new position in shares of Ultralife in the second quarter worth about $976,000. Institutional investors and hedge funds own 30.68% of the company's stock.

Ultralife Company Profile

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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