Ultralife (NASDAQ:ULBI) Stock Crosses Above Two Hundred Day Moving Average on Disappointing Earnings

Key Points

• Ultralife Corporation's stock recently crossed above its 200-day moving average of $6.66, trading as high as $7.24 after a better-than-expected earnings announcement.
• The company reported $0.07 earnings per share for the quarter, missing analysts' estimates of $0.14 by ($0.07).
• In insider transactions, Director Thomas Louis Saeli and Director Bradford T. Whitmore purchased shares, increasing their ownership by 6.25% and 1.56%, respectively.

Ultralife Corporation (NASDAQ:ULBI - Get Free Report) crossed above its two hundred day moving average during trading on Thursday following a stronger than expected earnings report. The stock has a two hundred day moving average of $6.66 and traded as high as $7.24. Ultralife shares last traded at $6.77, with a volume of 239,208 shares changing hands.

The technology company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.07). The company had revenue of $48.56 million for the quarter, compared to analysts' expectations of $51.00 million. Ultralife had a return on equity of 2.68% and a net margin of 1.79%.

Wall Street Analysts Forecast Growth

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.

Insider Transactions at Ultralife

In related news, Director Bradford T. Whitmore acquired 16,063 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were acquired at an average cost of $5.47 per share, for a total transaction of $87,864.61. Following the acquisition, the director directly owned 1,045,947 shares in the company, valued at approximately $5,721,330.09. The trade was a 1.56% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Thomas Louis Saeli acquired 5,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were bought at an average price of $5.44 per share, for a total transaction of $27,200.00. Following the completion of the acquisition, the director owned 85,000 shares in the company, valued at approximately $462,400. This trade represents a 6.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 47,140 shares of company stock worth $256,355. 40.00% of the stock is owned by insiders.

Institutional Trading of Ultralife

Institutional investors and hedge funds have recently bought and sold shares of the business. IFP Advisors Inc increased its position in 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 in the last quarter. Jones Financial Companies Lllp increased its position in Ultralife by 1,428.7% during the 1st quarter. Jones Financial Companies Lllp now owns 15,287 shares of the technology company's stock worth $82,000 after purchasing an additional 14,287 shares in the last quarter. Bank of America Corp DE increased its position in Ultralife by 30.7% during the 4th quarter. Bank of America Corp DE now owns 12,067 shares of the technology company's stock worth $90,000 after purchasing an additional 2,836 shares in the last quarter. Barclays PLC increased its position in Ultralife by 13.7% during the 4th quarter. Barclays PLC now owns 15,233 shares of the technology company's stock worth $113,000 after purchasing an additional 1,838 shares in the last quarter. Finally, Pitti Group Wealth Management LLC increased its position in Ultralife by 23.4% during the 1st quarter. Pitti Group Wealth Management LLC now owns 21,120 shares of the technology company's stock worth $114,000 after purchasing an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 30.68% of the company's stock.

Ultralife Stock Performance

The stock's 50-day moving average is $8.25 and its 200-day moving average is $6.62. The stock has a market cap of $115.22 million, a price-to-earnings ratio of 35.63 and a beta of 1.00. The company has a current ratio of 3.31, a quick ratio of 1.62 and a debt-to-equity ratio of 0.34.

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.