Ultralife (NASDAQ:ULBI) Issues Quarterly Earnings Results, Misses Expectations By $0.14 EPS

Ultralife (NASDAQ:ULBI) released its earnings results on Tuesday. The technology company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.14), RTT News reports. Ultralife had a return on equity of 7.92% and a net margin of 5.44%. The firm had revenue of $43.85 million during the quarter, compared to analyst estimates of $40.00 million. During the same quarter last year, the company earned $0.18 earnings per share.

Ultralife Trading Down 3.4 %

Shares of NASDAQ:ULBI opened at $4.88 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.62 and a current ratio of 3.30. The stock has a market capitalization of $81.14 million, a price-to-earnings ratio of 8.87 and a beta of 1.05. Ultralife has a 1-year low of $4.42 and a 1-year high of $13.39. The company has a 50 day moving average price of $6.50 and a 200 day moving average price of $7.63.

Institutional Investors Weigh In On Ultralife

An institutional investor recently raised its position in Ultralife stock. Bank of America Corp DE raised its position in shares of Ultralife Co. (NASDAQ:ULBI) by 30.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,067 shares of the technology company’s stock after buying an additional 2,836 shares during the quarter. Bank of America Corp DE owned 0.07% of Ultralife worth $90,000 at the end of the most recent quarter. 30.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com cut Ultralife from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th.

About Ultralife

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.