Ultralife (NASDAQ:ULBI) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?
by Kim Johansen · The Markets DailyUltralife Corporation (NASDAQ:ULBI – Get Free Report)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.38 and traded as high as $6.47. Ultralife shares last traded at $6.32, with a volume of 18,428 shares changing hands.
Wall Street Analyst Weigh In
Separately, Weiss Ratings downgraded Ultralife from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.
Read Our Latest Research Report on Ultralife
Ultralife Price Performance
The company has a current ratio of 2.56, a quick ratio of 1.23 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $103.77 million, a PE ratio of -12.46 and a beta of 0.75. The stock’s 50-day moving average is $6.79 and its two-hundred day moving average is $6.38.
Ultralife (NASDAQ:ULBI – Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.18). The business had revenue of $47.45 million for the quarter, compared to analysts’ expectations of $52.40 million. Ultralife had a negative net margin of 4.37% and a positive return on equity of 1.15%.
Insider Buying and Selling at Ultralife
In related news, Director Bradford T. Whitmore purchased 67,302 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $6.81 per share, with a total value of $458,326.62. Following the completion of the purchase, the director owned 2,050,637 shares of the company’s stock, valued at approximately $13,964,837.97. The trade was a 3.39% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have purchased a total of 108,878 shares of company stock worth $714,928 over the last ninety days. Insiders own 42.90% of the company’s stock.
Hedge Funds Weigh In On Ultralife
Several institutional investors have recently made changes to their positions in the company. Empowered Funds LLC purchased a new position in Ultralife during the 4th quarter valued at about $44,000. Lazard Asset Management LLC increased its stake in Ultralife by 1,650.0% during the 2nd quarter. Lazard Asset Management LLC now owns 5,565 shares of the technology company’s stock valued at $49,000 after purchasing an additional 5,247 shares in the last quarter. Prelude Capital Management LLC purchased a new position in Ultralife in the 3rd quarter worth $71,000. Jane Street Group LLC purchased a new position in shares of Ultralife in the fourth quarter worth about $75,000. Finally, Jones Financial Companies Lllp raised 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 buying an additional 14,287 shares during the last quarter. Hedge funds and other institutional investors own 30.68% of the company’s stock.
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.