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

Key Points

• Ultralife Corporation (NASDAQ:ULBI) shares have recently crossed above their 200-day moving average of $6.73, reaching a high of $7.35 during trading.
• Equity analysts have lowered Ultralife's rating from "strong-buy" to "hold," with a current consensus rating of "Moderate Buy" and an average price target of $14.00.
• Insiders have shown confidence in the company, with Director Bradford T. Whitmore acquiring 29,766 shares at an average price of $6.63, increasing his ownership in the company.

Ultralife Corporation (NASDAQ:ULBI - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.73 and traded as high as $7.35. Ultralife shares last traded at $7.06, with a volume of 117,433 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ULBI shares. Wall Street Zen lowered Ultralife from a "strong-buy" rating to a "hold" rating in a research report on Saturday, September 13th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Ultralife in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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 firm has a market capitalization of $117.48 million, a price-to-earnings ratio of 37.16 and a beta of 1.06. The company has a 50-day moving average of $6.86 and a 200-day moving average of $6.73.

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

Insiders Place Their Bets

In other Ultralife news, Director Bradford T. Whitmore acquired 29,766 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The shares were purchased at an average price of $6.63 per share, for a total transaction of $197,348.58. Following the completion of the purchase, the director directly owned 1,128,731 shares in the company, valued at $7,483,486.53. The trade was a 2.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders have bought a total of 58,664 shares of company stock worth $387,049 in the last quarter. 40.00% of the stock is owned by corporate insiders.

Institutional Trading of Ultralife

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc raised its position 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 worth $76,000 after purchasing an additional 2,800 shares during the period. Bank of America Corp DE increased its position in Ultralife by 30.7% in the fourth quarter. Bank of America Corp DE now owns 12,067 shares of the technology company's stock worth $90,000 after buying an additional 2,836 shares during the period. Janney Montgomery Scott LLC increased its position in Ultralife by 1.1% in the second quarter. Janney Montgomery Scott LLC now owns 446,250 shares of the technology company's stock worth $4,007,000 after buying an additional 5,000 shares during the period. Lazard Asset Management LLC increased its holdings in shares of 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. Finally, Jones Financial Companies Lllp increased its holdings in shares of 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. 30.68% of the stock is currently 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.

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