Ultralife (ULBI) to Repurchase 2,500,000 Outstanding Shares

Ultralife (NASDAQ:ULBI) declared that its Board of Directors has initiated a stock buyback program, which allows the company to buyback 2,500,000 shares on Thursday, November 1st. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Shares of NASDAQ ULBI opened at $7.20 on Friday. The company has a market cap of $104.44 million, a PE ratio of 15.60 and a beta of -0.54. Ultralife has a 12-month low of $5.80 and a 12-month high of $10.95.

Ultralife (NASDAQ:ULBI) last issued its quarterly earnings data on Thursday, August 2nd. The technology company reported $0.10 earnings per share (EPS) for the quarter. The business had revenue of $22.86 million during the quarter. Ultralife had a return on equity of 8.45% and a net margin of 9.69%.

Separately, ValuEngine downgraded Ultralife from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd.

Ultralife Company Profile

Ultralife Corporation designs, manufactures, installs, and maintains power, and communication and electronic systems for government, defense, and commercial sectors 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.

Further Reading: Price to Earnings Ratio (PE) Basics

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