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

Key Points

• Shares of Ultralife recently moved above its 200-day moving average (200‑day = $6.30), trading as high as $7.95 and last at $7.55 on Friday.
• Despite the technical pop, Wall Street sentiment is negative with a reaffirmed Sell rating (Weiss Ratings) and the company missed expectations this quarter — $0.12 EPS vs. $0.24 estimate and $48.48M revenue vs. $57M consensus, with a negative net margin.
• About 30.68% of the stock is held by institutional investors, and several funds (e.g., XTX, Bank of America, Lazard) have recently increased their stakes, showing some institutional buying interest.

Shares of Ultralife Corporation (NASDAQ:ULBI - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.30 and traded as high as $7.95. Ultralife shares last traded at $7.55, with a volume of 12,926 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Ultralife in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of "Sell".

Ultralife Price Performance

The firm has a fifty day moving average of $6.51 and a two-hundred day moving average of $6.30. The stock has a market capitalization of $125.76 million, a P/E ratio of -20.97 and a beta of 0.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.83 and a quick ratio of 1.39.

Ultralife (NASDAQ:ULBI - Get Free Report) last issued its earnings results on Tuesday, March 10th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.12). Ultralife had a positive return on equity of 3.10% and a negative net margin of 3.09%.The business had revenue of $48.48 million for the quarter, compared to the consensus estimate of $57.00 million.

Hedge Funds Weigh In On Ultralife

Several institutional investors have recently bought and sold shares of ULBI. XTX Topco Ltd lifted its stake in shares of Ultralife by 19.9% during the 4th quarter. XTX Topco Ltd now owns 15,456 shares of the technology company's stock worth $88,000 after purchasing an additional 2,569 shares during the last quarter. Bank of America Corp DE grew its stake 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 valued at $90,000 after purchasing an additional 2,836 shares during the last quarter. Pitti Group Wealth Management LLC raised its holdings in Ultralife by 20.0% in the third quarter. Pitti Group Wealth Management LLC now owns 17,981 shares of the technology company's stock worth $123,000 after purchasing an additional 3,000 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Ultralife by 1,650.0% during the second quarter. Lazard Asset Management LLC now owns 5,565 shares of the technology company's stock valued at $49,000 after buying an additional 5,247 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in shares of Ultralife during the fourth quarter valued at about $44,000. 30.68% of the stock is owned by hedge funds and other institutional investors.

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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