Short Interest in UFP Technologies, Inc. (NASDAQ:UFPT) Rises By 27.8%

UFP Technologies, Inc. (NASDAQ:UFPT) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 485,300 shares, an increase of 27.8% from the September 30th total of 379,700 shares. Approximately 6.6% of the company’s shares are short sold. Based on an average daily volume of 56,100 shares, the days-to-cover ratio is currently 8.7 days.

Wall Street Analyst Weigh In

Separately, Lake Street Capital lifted their price objective on shares of UFP Technologies from $344.00 to $392.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th.

Insider Buying and Selling

In other news, CEO R Jeffrey Bailly sold 1,083 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $310.36, for a total value of $336,119.88. Following the transaction, the chief executive officer now owns 139,341 shares of the company’s stock, valued at approximately $43,245,872.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO R Jeffrey Bailly sold 1,083 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $310.36, for a total value of $336,119.88. Following the transaction, the chief executive officer now owns 139,341 shares of the company’s stock, valued at $43,245,872.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ronald J. Lataille sold 4,798 shares of UFP Technologies stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $330.44, for a total value of $1,585,451.12. Following the sale, the chief financial officer now directly owns 41,332 shares of the company’s stock, valued at approximately $13,657,746.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,134 shares of company stock worth $21,494,247 over the last three months. 6.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On UFP Technologies

Several institutional investors have recently added to or reduced their stakes in UFPT. Northwest Investment Counselors LLC acquired a new stake in shares of UFP Technologies in the 3rd quarter valued at about $32,000. EverSource Wealth Advisors LLC boosted its position in UFP Technologies by 1,614.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 120 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 113 shares during the last quarter. Advisors Asset Management Inc. bought a new position in shares of UFP Technologies during the 1st quarter worth approximately $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of UFP Technologies in the second quarter valued at approximately $36,000. Finally, GAMMA Investing LLC lifted its position in shares of UFP Technologies by 77.9% in the third quarter. GAMMA Investing LLC now owns 137 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 60 shares in the last quarter. 87.28% of the stock is owned by institutional investors.

UFP Technologies Trading Up 3.0 %

NASDAQ:UFPT traded up $8.48 on Tuesday, reaching $287.38. The company’s stock had a trading volume of 48,394 shares, compared to its average volume of 59,719. UFP Technologies has a 1-year low of $127.29 and a 1-year high of $366.41. The business’s 50-day moving average price is $315.27 and its two-hundred day moving average price is $287.37. The firm has a market cap of $2.20 billion, a PE ratio of 44.76 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 3.13.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.86 earnings per share (EPS) for the quarter. The business had revenue of $110.18 million during the quarter. UFP Technologies had a return on equity of 17.53% and a net margin of 11.87%.

About UFP Technologies

UFP Technologies, Inc designs and manufactures solutions for medical devices, sterile packaging, and other highly engineered custom products. The company offers protective drapes for robotic surgery, single patient use surfaces, advanced wound care, infection prevention, disposables for surgical and endoscopic procedures, packaging for medical devices, orthopedic implants, biopharma drug manufacturing, and coils for catheters; and molded components for applications in acoustic insulation, interior trim, load floors, sunshades, SUV cargo cover handles, driveshaft damping, engine and manifold covers, quarter panels, and wheel liners.