Ultralife (NASDAQ:ULBI) Stock Price Crosses Above 200 Day Moving Average Following Weak 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) shares passed above its two hundred day moving average during trading on Thursday following a better than expected earnings announcement. 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 trading hands.

The technology company reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.07). Ultralife had a return on equity of 4.61% and a net margin of 3.05%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Ultralife from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th.

Insider Transactions at Ultralife

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

Institutional Trading of Ultralife

A number of hedge funds have recently modified their holdings of ULBI. Barclays PLC grew its holdings in shares of Ultralife by 13.7% during the fourth quarter. Barclays PLC now owns 15,233 shares of the technology company's stock valued at $113,000 after buying an additional 1,838 shares in the last quarter. IFP Advisors Inc boosted 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 acquiring an additional 2,800 shares during the period. Bank of America Corp DE grew its stake 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 valued at $90,000 after acquiring an additional 2,836 shares in the last quarter. Marshall Wace LLP grew its stake in Ultralife by 11.6% during the 4th quarter. Marshall Wace LLP now owns 32,885 shares of the technology company's stock valued at $245,000 after acquiring an additional 3,426 shares in the last quarter. Finally, Pitti Group Wealth Management LLC increased its holdings in shares of Ultralife by 23.4% in the 1st quarter. Pitti Group Wealth Management LLC now owns 21,120 shares of the technology company's stock valued at $114,000 after purchasing an additional 4,000 shares during the period. Hedge funds and other institutional investors own 30.68% of the company's stock.

Ultralife Stock Down 17.0%

The company has a quick ratio of 1.70, a current ratio of 3.22 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $112.59 million, a PE ratio of 21.16 and a beta of 1.00. The business's 50-day moving average price is $8.25 and its 200-day moving average price is $6.66.

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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