Key Points
- Ultralife Director Bradford Whitmore bought 67,302 shares on May 26 at an average price of $6.81, a transaction worth about $458,327.
- After the purchase, Whitmore’s stake rose to 2,050,637 shares, valued at roughly $13.96 million, representing a 3.39% increase in his position.
- Ultralife shares were up 6.5% to $6.86, even as the company recently reported quarterly results that missed analyst estimates on both earnings and revenue.
Ultralife Corporation (NASDAQ:ULBI - Get Free Report) Director Bradford Whitmore acquired 8,700 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of $6.33 per share, with a total value of $55,071.00. Following the completion of the purchase, the director directly owned 1,983,335 shares in the company, valued at $12,554,510.55. The trade was a 0.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Ultralife Trading Up 6.5%
Shares of NASDAQ ULBI opened at $6.86 on Wednesday. The business has a fifty day moving average price of $6.75 and a 200 day moving average price of $6.23. Ultralife Corporation has a 1-year low of $4.90 and a 1-year high of $9.52. The stock has a market capitalization of $114.29 million, a P/E ratio of -13.72 and a beta of 0.74. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.56 and a quick ratio of 1.23.
Ultralife (NASDAQ:ULBI - Get Free Report) last announced its earnings results on Friday, May 8th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.18). Ultralife had a negative net margin of 4.37% and a positive return on equity of 1.15%. The business had revenue of $47.45 million for the quarter, compared to analyst estimates of $52.40 million.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Teton Advisors LLC acquired a new position in Ultralife during the 3rd quarter valued at about $752,000. LSV Asset Management increased 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 in the last quarter. Pitti Group Wealth Management LLC increased 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 in the last quarter. Man Group plc acquired a new stake in shares of Ultralife during the third quarter worth $111,000. Finally, Bank of America Corp DE grew its holdings in shares of Ultralife by 30.7% during the fourth quarter. Bank of America Corp DE now owns 12,067 shares of the technology company's stock valued at $90,000 after buying an additional 2,836 shares during the last quarter. 30.68% of the stock is owned by institutional investors and hedge funds.
Ultralife Company Profile
(
Get Free Report)
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.
Further Reading
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