Ultralife (NASDAQ:ULBI) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Ultralife Corporation (NASDAQ:ULBI) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.25 and traded as high as $6.54. Ultralife shares last traded at $6.52, with a volume of 33,091 shares traded.

Wall Street Analysts Forecast Growth

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

Ultralife Price Performance

The company has a market capitalization of $111.29 million, a P/E ratio of -18.56 and a beta of 0.72. The company has a quick ratio of 1.39, a current ratio of 2.83 and a debt-to-equity ratio of 0.35. The business has a 50 day simple moving average of $6.22 and a 200-day simple moving average of $6.25.

Ultralife (NASDAQ:ULBI) last released its quarterly earnings data on Tuesday, March 10th. The technology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.12). The firm had revenue of $48.48 million during the quarter, compared to analyst estimates of $57.00 million. Ultralife had a positive return on equity of 3.10% and a negative net margin of 3.09%.

Institutional Investors Weigh In On Ultralife

A number of hedge funds have recently made changes to their positions in ULBI. Bank of America Corp DE grew its holdings in Ultralife by 30.7% in the 4th quarter. Bank of America Corp DE now owns 12,067 shares of the technology company’s stock worth $90,000 after buying an additional 2,836 shares in the last quarter. Jones Financial Companies Lllp raised its stake 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 valued at $82,000 after acquiring an additional 14,287 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Ultralife by 474.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 70,476 shares of the technology company’s stock valued at $633,000 after acquiring an additional 58,211 shares in the last quarter. Walleye Capital LLC boosted its position in Ultralife by 127.2% during the 2nd quarter. Walleye Capital LLC now owns 31,102 shares of the technology company’s stock worth $279,000 after acquiring an additional 17,414 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new position in Ultralife during the 2nd quarter worth $134,000. 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.