UFP Technologies, Inc. (NASDAQ:UFPT) Short Interest Up 27.8% in October

UFP Technologies, Inc. (NASDAQ:UFPT) was the target of a significant increase in short interest during 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. Based on an average trading volume of 56,100 shares, the days-to-cover ratio is currently 8.7 days. Approximately 6.6% of the company’s stock are sold short.

Analyst Ratings Changes

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

UFP Technologies Stock Performance

NASDAQ UFPT traded up $8.48 during trading 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 12 month low of $127.29 and a 12 month high of $366.41. The firm has a 50 day moving average price of $315.27 and a 200 day moving average price of $287.37. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 44.76 and a beta of 0.93. The company has a current ratio of 3.13, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14.

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

Insider Activity at UFP Technologies

In other news, CFO Ronald J. Lataille sold 2,392 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $329.04, for a total value of $787,063.68. Following the completion of the sale, the chief financial officer now owns 38,940 shares of the company’s stock, valued at approximately $12,812,817.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other UFP Technologies news, CFO Ronald J. Lataille sold 2,392 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $329.04, for a total value of $787,063.68. Following the sale, the chief financial officer now owns 38,940 shares in the company, valued at $12,812,817.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ronald J. Lataille sold 11,466 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $301.65, for a total value of $3,458,718.90. Following the completion of the sale, the chief financial officer now directly owns 46,130 shares of the company’s stock, valued at approximately $13,915,114.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,134 shares of company stock valued at $21,494,247. 6.17% of the stock is owned by insiders.

Institutional Trading of UFP Technologies

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in UFP Technologies by 5.2% during the fourth quarter. Vanguard Group Inc. now owns 533,800 shares of the industrial products company’s stock worth $91,835,000 after purchasing an additional 26,269 shares during the period. Tidal Investments LLC bought a new position in UFP Technologies in the first quarter valued at approximately $448,000. Congress Wealth Management LLC DE raised its position in UFP Technologies by 221.7% during the first quarter. Congress Wealth Management LLC DE now owns 34,672 shares of the industrial products company’s stock valued at $8,744,000 after purchasing an additional 23,895 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in UFP Technologies by 2,331.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,134 shares of the industrial products company’s stock worth $10,879,000 after purchasing an additional 41,360 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of UFP Technologies by 489.8% in the 1st quarter. SG Americas Securities LLC now owns 4,158 shares of the industrial products company’s stock valued at $1,049,000 after purchasing an additional 3,453 shares in the last quarter. 87.28% of the stock is owned by institutional investors and hedge funds.

UFP Technologies Company Profile

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.