Insiders Continue to Buy Ultralife Corp. (ULBI)

Submitted by Frank Lara Jr on Wed, 11/18/2009 - 20:57

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Financial News

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?

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.

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.