Insider Buying: Ultralife (NASDAQ:ULBI) Director Acquires 8,700 Shares of Stock

Ultralife Corporation (NASDAQ:ULBI) Director Bradford Whitmore purchased 8,700 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average cost of $6.33 per share, for a total transaction of $55,071.00. Following the completion of the acquisition, the director directly owned 1,983,335 shares of the company’s stock, valued at $12,554,510.55. This represents a 0.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Ultralife Price Performance

ULBI traded up $0.42 during midday trading on Tuesday, hitting $6.86. 141,220 shares of the company traded hands, compared to its average volume of 47,721. 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 $114.29 million, a price-to-earnings ratio of -13.72 and a beta of 0.74. Ultralife Corporation has a 52-week low of $4.90 and a 52-week high of $9.52. The business has a 50 day simple moving average of $6.75 and a two-hundred day simple moving average of $6.23.

Ultralife (NASDAQ:ULBI) last posted its quarterly earnings data on Friday, May 8th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.18). The company 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%.

Hedge Funds Weigh In On Ultralife

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC lifted its holdings in Ultralife by 2.0% during the first quarter. Janney Montgomery Scott LLC now owns 518,000 shares of the technology company’s stock valued at $3,377,000 after purchasing an additional 10,200 shares in the last quarter. Empowered Funds LLC purchased a new position in Ultralife during the fourth quarter valued at $44,000. XTX Topco Ltd lifted its holdings in Ultralife by 19.9% during the fourth quarter. XTX Topco Ltd now owns 15,456 shares of the technology company’s stock valued at $88,000 after purchasing an additional 2,569 shares in the last quarter. Rothschild Wealth LLC purchased a new position in Ultralife during the fourth quarter valued at $400,000. Finally, Heron Bay Capital Management purchased a new position in Ultralife during the fourth quarter valued at $127,000. 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.