Ultralife (NASDAQ:ULBI) CEO Michael Edward Manna Purchases 2,000 Shares of Stock

Ultralife Corporation (NASDAQ:ULBI) CEO Michael Edward Manna acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average cost of $6.01 per share, for a total transaction of $12,020.00. Following the completion of the acquisition, the chief executive officer owned 26,874 shares in the company, valued at $161,512.74. This represents a 8.04% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Ultralife Stock Up 7.0%

Shares of ULBI opened at $7.01 on Tuesday. The firm has a market cap of $116.72 million, a P/E ratio of -19.47 and a beta of 0.88. The stock has a 50 day simple moving average of $6.17 and a two-hundred day simple moving average of $6.28. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.99 and a quick ratio of 1.42. Ultralife Corporation has a 1 year low of $4.07 and a 1 year high of $9.52.

Ultralife (NASDAQ:ULBI) last issued its quarterly earnings results on Tuesday, March 10th. The technology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.12). The business had revenue of $48.48 million for the quarter, compared to the consensus estimate of $57.00 million. Ultralife had a negative net margin of 3.09% and a positive return on equity of 3.06%.

Analysts Set New Price Targets

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

Institutional Trading of Ultralife

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. RBF Capital LLC bought a new position in shares of Ultralife in the second quarter worth approximately $2,020,000. Truffle Hound Capital LLC bought a new stake in Ultralife during the 2nd quarter valued at $2,245,000. Teton Advisors LLC bought a new stake in Ultralife during the 3rd quarter valued at $752,000. LSV Asset Management boosted its position in Ultralife by 232.5% during the 3rd quarter. LSV Asset Management now owns 64,500 shares of the technology company’s stock valued at $440,000 after buying an additional 45,100 shares during the period. Finally, Pitti Group Wealth Management LLC boosted its position in Ultralife by 20.0% during the 3rd quarter. Pitti Group Wealth Management LLC now owns 17,981 shares of the technology company’s stock valued at $123,000 after buying an additional 3,000 shares during the period. Institutional investors own 30.68% of the company’s stock.

About Ultralife

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.