Ultralife Co. (NASDAQ:ULBI) CEO Michael Edward Manna Purchases 3,000 Shares of Stock

Ultralife Co. (NASDAQ:ULBI) CEO Michael Edward Manna purchased 3,000 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were bought at an average cost of $5.29 per share, with a total value of $15,870.00. Following the transaction, the chief executive officer now directly owns 22,874 shares of the company’s stock, valued at $121,003.46. This represents a 15.10% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Ultralife Price Performance

Shares of Ultralife stock opened at $5.52 on Wednesday. Ultralife Co. has a twelve month low of $4.07 and a twelve month high of $12.40. The stock has a market capitalization of $91.81 million, a P/E ratio of 10.04 and a beta of 0.77. The company has a current ratio of 3.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average price is $4.93 and its 200 day moving average price is $6.65.

Ultralife (NASDAQ:ULBI) last released its quarterly earnings data on Friday, May 9th. The technology company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02). Ultralife had a net margin of 5.44% and a return on equity of 7.92%. The company had revenue of $50.75 million during the quarter, compared to analysts’ expectations of $54.50 million. During the same period last year, the business earned $0.21 earnings per share.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Ultralife from a “hold” rating to a “buy” rating in a report on Monday.

Institutional Trading of Ultralife

Hedge funds and other institutional investors have recently modified their holdings of the business. IFP Advisors Inc increased its holdings in Ultralife by 24.6% in the first quarter. IFP Advisors Inc now owns 14,200 shares of the technology company’s stock valued at $76,000 after buying an additional 2,800 shares during the last quarter. Bank of America Corp DE boosted its position 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 worth $90,000 after buying an additional 2,836 shares during the period. Barclays PLC boosted its position in shares of Ultralife by 13.7% during the fourth quarter. Barclays PLC now owns 15,233 shares of the technology company’s stock worth $113,000 after buying an additional 1,838 shares during the period. Pitti Group Wealth Management LLC boosted its position in shares of Ultralife by 23.4% during the first quarter. Pitti Group Wealth Management LLC now owns 21,120 shares of the technology company’s stock worth $114,000 after buying an additional 4,000 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Ultralife during the first quarter worth approximately $116,000. 30.68% of the stock is owned by hedge funds and other institutional investors.

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.