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

Ultralife Corporation (NASDAQ:ULBI) shares passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $6.39 and traded as high as $6.60. Ultralife shares last traded at $6.54, with a volume of 17,640 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Ultralife in a research note on Wednesday, September 9th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Ultralife currently has a consensus rating of “Sell”.

Ultralife Trading Down 2.4%

The stock has a market cap of $103.46 million, a PE ratio of -15.52 and a beta of 0.78. The business’s fifty day moving average is $6.22 and its 200 day moving average is $6.38. The company has a quick ratio of 1.30, a current ratio of 2.87 and a debt-to-equity ratio of 0.32.

Ultralife (NASDAQ:ULBI) last issued its earnings results on Friday, August 7th. The technology company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. Ultralife had a negative net margin of 3.50% and a positive return on equity of 2.75%. The company had revenue of $47.94 million for the quarter, compared to analyst estimates of $55.00 million.

Hedge Funds Weigh In On Ultralife

Hedge funds and other institutional investors have recently bought and sold shares of the company. Visionary Wealth Advisors purchased a new stake in Ultralife during the second quarter worth $7,010,000. Janney Montgomery Scott LLC raised its stake in shares of Ultralife by 2.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 518,000 shares of the technology company’s stock worth $3,377,000 after buying an additional 10,200 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Ultralife in the 2nd quarter worth about $980,000. BlackRock Inc. purchased a new stake in shares of Ultralife in the 2nd quarter worth about $976,000. Finally, Ancora Advisors LLC acquired a new stake in Ultralife in the 2nd quarter valued at about $355,000. 30.68% of the stock is owned by institutional investors and hedge funds.

Ultralife Company Profile

Ultralife Corporation (NASDAQ:ULBI) develops and manufactures portable power and communications products for government, defense, industrial, medical and public-safety customers. The company’s offerings are designed for applications that require reliable power and communications in demanding or remote environments.

Its battery business includes non-rechargeable and rechargeable lithium batteries, battery packs, chargers, and power systems. Ultralife also provides accessories and related power-management products for military equipment, electronic devices and other specialized applications.

Through its communications operations, Ultralife supplies products such as tactical communications equipment, amplifiers, power supplies and related systems.