Ultralife (NASDAQ:ULBI) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Ultralife Corporation (NASDAQ:ULBI)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.26 and traded as high as $6.61. Ultralife shares last traded at $6.10, with a volume of 90,946 shares.

Ultralife Trading Down 0.2%

The company has a quick ratio of 1.23, a current ratio of 2.56 and a debt-to-equity ratio of 0.34. The stock’s fifty day moving average price is $6.72 and its two-hundred day moving average price is $6.24. The company has a market capitalization of $99.79 million, a PE ratio of -11.98 and a beta of 0.74.

Ultralife (NASDAQ:ULBI) last posted its earnings results on Friday, May 8th. The technology company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.18). The firm had revenue of $47.45 million for the quarter, compared to analysts’ expectations of $52.40 million. Ultralife had a positive return on equity of 1.15% and a negative net margin of 4.37%.

Institutional Trading of Ultralife

Several institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd lifted its holdings in Ultralife by 19.9% in the fourth quarter. XTX Topco Ltd now owns 15,456 shares of the technology company’s stock worth $88,000 after buying an additional 2,569 shares during the period. Bank of America Corp DE lifted its holdings in Ultralife by 30.7% in the fourth 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 during the period. Pitti Group Wealth Management LLC lifted its holdings in Ultralife by 20.0% in the third quarter. Pitti Group Wealth Management LLC now owns 17,981 shares of the technology company’s stock worth $123,000 after buying an additional 3,000 shares during the period. Lazard Asset Management LLC lifted its holdings in Ultralife by 1,650.0% in the second quarter. Lazard Asset Management LLC now owns 5,565 shares of the technology company’s stock worth $49,000 after buying an additional 5,247 shares during the period. Finally, Empowered Funds LLC purchased a new stake in Ultralife in the fourth quarter worth about $44,000. 30.68% of the stock is currently 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.