Ultralife (NASDAQ:ULBI) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Ultralife Corporation (NASDAQ:ULBI) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.48 and traded as high as $9.11. Ultralife shares last traded at $8.68, with a volume of 87,966 shares changing hands.

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.

Ultralife Price Performance

The stock has a fifty day simple moving average of $6.62 and a two-hundred day simple moving average of $6.48. The company has a market cap of $144.35 million, a PE ratio of 27.13 and a beta of 1.00. The company has a current ratio of 3.22, a quick ratio of 1.70 and a debt-to-equity ratio of 0.37.

Ultralife (NASDAQ:ULBI) last announced 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). The firm had revenue of $50.75 million for the quarter, compared to analysts’ expectations of $54.50 million. Ultralife had a return on equity of 4.61% and a net margin of 3.05%. During the same period last year, the firm earned $0.21 EPS.

Insider Buying and Selling

In other Ultralife news, Director Thomas Louis Saeli purchased 5,000 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was bought at an average cost of $5.44 per share, for a total transaction of $27,200.00. Following the acquisition, the director owned 85,000 shares of the company’s stock, valued at approximately $462,400. The trade was a 6.25% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bradford T. Whitmore purchased 11,980 shares of the business’s stock in a transaction on Friday, May 23rd. The stock was acquired at an average price of $5.41 per share, with a total value of $64,811.80. Following the completion of the acquisition, the director directly owned 1,060,067 shares in the company, valued at $5,734,962.47. The trade was a 1.14% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 47,140 shares of company stock worth $256,355. 40.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. IFP Advisors Inc acquired a new stake in shares of Ultralife during the 4th quarter worth $85,000. Bank of New York Mellon Corp increased its holdings in Ultralife by 35.7% in the 4th quarter. Bank of New York Mellon Corp now owns 43,541 shares of the technology company’s stock valued at $324,000 after purchasing an additional 11,448 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Ultralife in the 4th quarter valued at $522,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Ultralife by 13.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 178,170 shares of the technology company’s stock valued at $1,327,000 after acquiring an additional 20,840 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Ultralife by 45.3% during the fourth quarter. JPMorgan Chase & Co. now owns 68,952 shares of the technology company’s stock valued at $514,000 after acquiring an additional 21,494 shares in the last quarter. 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.