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Bradford T. Whitmore, a director and significant shareholder of Ultralife Corp (NASDAQ:ULBI), has increased his stake in the company. According to a recent SEC filing, Whitmore acquired 11,980 shares of Ultralife Corp’s common stock on May 23, 2025. The shares were purchased at a weighted average price of $5.4072 per share, resulting in a total transaction value of approximately $64,778. The stock has since risen to $6.80, showing strong momentum with a ~13% gain in the past week. According to InvestingPro analysis, the company maintains a GOOD financial health score with a robust current ratio of 3.22.
Following this acquisition, Whitmore holds a considerable number of shares both directly and indirectly through various entities. His indirect ownership includes shares held by Whitmore Holdings, LLC, Sunray I, LLC, and Grace Brothers, LP. As of the latest filing, Whitmore’s total holdings in Ultralife Corp amount to several million shares, highlighting his substantial investment in the company, which currently has a market capitalization of $112 million. Trading at 0.75 times book value, the stock is currently trading near its Fair Value. Discover more insights and 6 additional ProTips for ULBI with an InvestingPro subscription.
In other recent news, Ultralife Corporation reported its Q1 2025 earnings, showcasing a revenue of $50.7 million, which exceeded the forecast of $48 million, marking a 21% year-over-year growth. However, the earnings per share (EPS) fell short of expectations, coming in at $0.11 compared to the anticipated $0.14. The company noted strong growth in government defense sales, which increased by 53.6%, although its Communications Systems (NASDAQ:SUNE) division faced a significant revenue decline. Ultralife’s recent acquisition of Electrochem Solutions contributed positively to the company’s performance, with the integration on track for completion by the second quarter of 2025. Benchmark analyst Josh Sullivan maintained a Buy rating on Ultralife, with a price target of $14, following the company’s robust first-quarter results. Sullivan highlighted the potential for Ultralife’s Thin-cell technology in medical wearables, especially after a partner received FDA approval in the fourth quarter of 2024. The company is also focusing on strategic pricing and material cost management to improve gross margins. Despite challenges, Ultralife remains optimistic about its growth trajectory, with plans to expand its product line and strengthen its position in international military markets.
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