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In a recent transaction, Michael Edward Manna, President and CEO of Ultralife Corp (NASDAQ:ULBI), purchased 3,000 shares of the company’s common stock. The shares were acquired at a price of $5.29 each, totaling approximately $15,870. The purchase comes as the stock shows strong momentum with a 17% gain over the past week, though still trading below InvestingPro’s Fair Value estimate. Following this transaction, Manna now holds 22,874 shares directly. This move reflects the executive’s continued investment in the company, headquartered in Newark, New York. The company maintains strong financial health with a current ratio of 3.22, indicating solid liquidity. According to InvestingPro, analysts have set a target price of $14.00, suggesting significant upside potential. Get access to 8 more exclusive ProTips and comprehensive analysis with an InvestingPro subscription.
In other recent news, Ultralife Corporation reported its Q1 2025 earnings, revealing a revenue of $50.7 million, which exceeded the forecast of $48 million. However, the company’s earnings per share (EPS) fell short, coming in at $0.11 compared to the anticipated $0.14. This mixed performance was driven by strong growth in government defense sales, which increased by 53.6%, while the Communications Systems (NASDAQ:SUNE) division saw a significant decline. The company’s gross margin was reported at 25.1%, a decrease of 230 basis points year-over-year, attributed to product mix and non-recurring costs. Despite the EPS miss, Ultralife’s stock saw a positive reaction, indicating investor confidence in its strategic initiatives. The company remains optimistic about its growth trajectory, particularly with expectations of a recovery in medical battery sales later in 2025. Additionally, Ultralife is focusing on new product development and international market expansion to drive future revenue growth. The integration of the Electrochem acquisition is expected to be completed by mid-2025, which could further enhance the company’s operational efficiency and profitability.
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