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Insiders Keep Buying Ultralife Corp. Shares on the Way Down

Submitted by Frank Lara Jr on Thu, 11/19/2009 - 01:18.
in
theStockMasters.com

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

ulbiWhat 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.

Chart for Ultralife Corp. (ULBI)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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