Ultralife (NASDAQ:ULBI) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Ultralife Corporation (NASDAQ:ULBI - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.44 and traded as high as $8.25. Ultralife shares last traded at $8.13, with a volume of 94,176 shares.

Analysts Set New Price Targets

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

Ultralife Stock Down 4.5%

The business has a 50 day moving average of $5.95 and a two-hundred day moving average of $6.42. The stock has a market capitalization of $133.87 million, a PE ratio of 25.16 and a beta of 0.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.70 and a current ratio of 3.22.

Ultralife (NASDAQ:ULBI - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The technology company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02). Ultralife had a net margin of 3.05% and a return on equity of 4.61%. The firm had revenue of $50.75 million for the quarter, compared to analysts' expectations of $54.50 million. During the same period in the previous year, the company posted $0.21 earnings per share.

Insider Buying and Selling at Ultralife

In related news, Director Thomas Louis Saeli bought 5,000 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were bought at an average price of $5.44 per share, with a total value of $27,200.00. Following the transaction, the director now owns 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bradford T. Whitmore purchased 16,063 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was bought at an average cost of $5.47 per share, with a total value of $87,864.61. Following the acquisition, the director now owns 1,045,947 shares of the company's stock, valued at approximately $5,721,330.09. The trade was a 1.56% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 47,140 shares of company stock worth $256,355 over the last three months. Corporate insiders own 40.00% of the company's stock.

Institutional Trading of Ultralife

Several large investors have recently made changes to their positions in the business. Visionary Wealth Advisors lifted its position in Ultralife by 17.1% during the fourth quarter. Visionary Wealth Advisors now owns 1,292,836 shares of the technology company's stock valued at $9,632,000 after purchasing an additional 188,384 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Ultralife by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,053,613 shares of the technology company's stock valued at $7,849,000 after buying an additional 7,174 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Ultralife by 11.6% in the 4th quarter. Renaissance Technologies LLC now owns 256,090 shares of the technology company's stock valued at $1,908,000 after buying an additional 26,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Ultralife by 13.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 178,170 shares of the technology company's stock worth $1,327,000 after buying an additional 20,840 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Ultralife by 8.0% during the fourth quarter. Northern Trust Corp now owns 87,633 shares of the technology company's stock worth $653,000 after acquiring an additional 6,484 shares during the period. 30.68% of the stock is owned by hedge funds and other institutional investors.

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.