Ultralife (NASDAQ:ULBI) Posts Quarterly Earnings Results

Ultralife (NASDAQ:ULBI) issued its earnings results on Monday. The technology company reported ($0.07) earnings per share (EPS) for the quarter, Zacks reports. The firm had revenue of $43.37 million during the quarter. Ultralife had a return on equity of 2.68% and a net margin of 1.79%.

Ultralife Stock Down 8.8%

Shares of ULBI stock opened at $5.05 on Wednesday. Ultralife has a twelve month low of $4.07 and a twelve month high of $9.52. The stock has a market cap of $84.05 million, a P/E ratio of 26.58 and a beta of 1.02. The stock has a 50 day moving average of $6.69 and a 200 day moving average of $7.10. The company has a current ratio of 3.31, a quick ratio of 1.62 and a debt-to-equity ratio of 0.34.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wall Street Zen lowered Ultralife from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ultralife in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Ultralife presently has a consensus rating of “Hold”.

Insider Buying and Selling at Ultralife

In other news, Director Bradford T. Whitmore bought 29,766 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The stock was purchased at an average cost of $6.63 per share, for a total transaction of $197,348.58. Following the purchase, the director directly owned 1,128,731 shares in the company, valued at approximately $7,483,486.53. This trade represents a 2.71% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 40.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Lazard Asset Management LLC boosted its stake in shares of Ultralife by 1,650.0% during the 2nd quarter. Lazard Asset Management LLC now owns 5,565 shares of the technology company’s stock worth $49,000 after acquiring an additional 5,247 shares in the last quarter. Prelude Capital Management LLC purchased a new position in Ultralife during the third quarter worth approximately $71,000. Bank of America Corp DE grew 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 valued at $90,000 after purchasing an additional 2,836 shares during the period. Qube Research & Technologies Ltd purchased a new stake in shares of Ultralife in the second quarter valued at approximately $134,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Ultralife by 1,428.7% during the 1st quarter. Jones Financial Companies Lllp now owns 15,287 shares of the technology company’s stock worth $82,000 after buying an additional 14,287 shares during the period. Institutional investors and hedge funds own 30.68% of the company’s stock.

Ultralife Company Profile

Ultralife Corporation, together with its subsidiaries, designs, manufactures, installs, and maintains power, and communication and electronics systems worldwide. The company operates in two segments, Battery & Energy Products and Communications Systems. The Battery & Energy Products segment offers lithium 9-volt, cylindrical, thin lithium manganese dioxide, rechargeable, and other non-rechargeable batteries; lithium-ion cells, multi-kilowatt module lithium-ion battery systems, and uninterruptable power supplies; and rugged military and commercial battery charging systems and accessories, including smart chargers, multi-bay charging systems, and various cables.