Insiders Keep Buying Ultralife Corp. Shares on the Way Down
Submitted by Frank Lara Jr. on Thu, 11/19/2009 - 01:18.
Ultralife Corp. (NASDAQ:ULBI) have shares fallen hard since Oct 19th, down almost 30% decending from $6 to just under $4. On Oct 29th Ultralife reported a Q3 loss of 4 cents a share and they plan to be profitable before the end of the year. The selling hasn't stopped since October but the insiders at Ultralife have been buying shares during November at the high $3 and low $4 level.
Ultralife execs have picked up 278,942 shares during November to the tune of $1.14 million, should you do the same?
(theStockMasters.com) Here's the insider buying detail thanks to finviz.com, notice that Paula Cholmondeley got creamed after picking up 14,720 shares in August, I like how she bailed on Nov 2nd then went back for more pain the same day, picking up 16,283 shares.
| Insider Trading | Relationship | Date | Transaction | Cost | #Shares | Value ($) | #Shares Total | SEC Form 4 |
| HANNA PATRICK R JR | Vice President | Nov 18 | Buy | 3.93 | 1,000 | 3,930 | 18,441 | Nov 18 03:24 PM |
| WHITMORE BRADFORD T | Director | Nov 06 | Buy | 4.04 | 54,200 | 219,055 | 378,247 | Nov 10 04:20 PM |
| BARRON PATRICIA C | Director | Nov 04 | Buy | 4.23 | 20,000 | 84,600 | 73,331 | Nov 04 03:16 PM |
| WHITMORE BRADFORD T | Director | Nov 04 | Buy | 4.11 | 75,669 | 311,363 | 324,047 | Nov 04 04:44 PM |
| WHITMORE BRADFORD T | Director | Nov 03 | Buy | 4.16 | 93,858 | 390,168 | 248,378 | Nov 04 04:44 PM |
| WHITMORE BRADFORD T | Director | Nov 02 | Buy | 3.86 | 26,099 | 100,690 | 154,520 | Nov 04 04:44 PM |
| CIRIN JULIUS M | Vice President | Nov 02 | Buy | 3.78 | 5,000 | 18,912 | 12,107 | Nov 02 03:03 PM |
| CHOLMONDELEY PAULA H | Director | Nov 02 | Buy | 3.77 | 1,563 | 5,893 | 16,283 | Nov 02 01:53 PM |
| CHOLMONDELEY PAULA H | Director | Nov 02 | Sale | 3.73 | 1,553 | 5,793 | 14,720 | Nov 02 01:53 PM |
| CHOLMONDELEY PAULA H | Director | Aug 03 | Buy | 6.71 | 2,877 | 19,311 | 14,720 | Aug 04 05:04 PM |
What can't be denied is the insiders at Ultralife Corp. (NASDAQ:ULBI) must really believe where the company is headed -- profitiability.
ULBI said for 2009, they expect revenue of about $175 million, down from its prior view of $180 million to $210 million. Analysts on average were expecting revenue of $184.7 million.
Since that time Ultralife's COO Bill A. Schmitz, has left the company (notice how he hasn't picked up any shares recently) while the other execs plan to just do his job and move forward.
Ultralife Corporation, which began as a battery company, sells products and services ranging from portable and standby power solutions to communications and electronics systems. Ultralife serves government, defense and commercial customers across the globe.
Ultralife's family of brands includes: Ultralife Batteries, Stationary Power Services, RPS Power Systems, ABLE, McDowell Research, RedBlack Communications, and AMTI. Ultralife's operations are in North America, Europe and Asia.
Bottom line, the insiders are buying and with shares in the low $4 range, I'm starting to warm up to the idea as well.
Disclaimer: No positions in any of the securities mentioned in this publication.
SOURCE: http://thestockmasters.com/ultralife-ulbi-11182009
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