Insider Buying: Ultralife (NASDAQ:ULBI) CEO Purchases $12,020.00 in Stock

Ultralife Corporation (NASDAQ:ULBI) CEO Michael Edward Manna purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average cost of $6.01 per share, with a total value of $12,020.00. Following the transaction, the chief executive officer directly owned 26,874 shares of the company’s stock, valued at $161,512.74. The trade was a 8.04% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Ultralife Stock Performance

NASDAQ:ULBI opened at $6.72 on Thursday. The company has a market cap of $111.89 million, a P/E ratio of -18.67 and a beta of 0.88. The firm’s 50 day moving average is $6.20 and its two-hundred day moving average is $6.28. Ultralife Corporation has a fifty-two week low of $4.07 and a fifty-two week high of $9.52. The company has a quick ratio of 1.42, a current ratio of 2.99 and a debt-to-equity ratio of 0.34.

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

Institutional Investors Weigh In On Ultralife

Institutional investors have recently bought and sold shares of the business. Truffle Hound Capital LLC acquired a new stake in shares of Ultralife in the second quarter worth $2,245,000. RBF Capital LLC purchased a new stake in Ultralife during the 2nd quarter worth $2,020,000. Arrowstreet Capital Limited Partnership boosted its position in Ultralife by 210.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 219,018 shares of the technology company’s stock worth $1,494,000 after purchasing an additional 148,542 shares during the period. Teton Advisors LLC acquired a new stake in Ultralife in the 3rd quarter valued at $752,000. Finally, Rothschild Wealth LLC acquired a new stake in Ultralife in the 4th quarter valued at $400,000. 30.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.