UFP Technologies, Inc. (NASDAQ:UFPT) Sees Large Growth in Short Interest

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UFP Technologies, Inc. (NASDAQ:UFPT) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 15,800 shares, an increase of 13.7% from the January 15th total of 13,900 shares. Based on an average daily trading volume, of 34,900 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.2% of the company’s stock are sold short.

Shares of UFP Technologies stock opened at $49.87 on Friday. UFP Technologies has a one year low of $31.80 and a one year high of $51.14. The company has a market cap of $373.11 million, a PE ratio of 20.27 and a beta of 0.62. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.10 and a current ratio of 3.00. The business has a 50-day simple moving average of $47.94 and a 200-day simple moving average of $43.85.

In other news, SVP Christopher P. Litterio sold 5,000 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $45.52, for a total transaction of $227,600.00. Following the completion of the transaction, the senior vice president now directly owns 11,289 shares of the company’s stock, valued at $513,875.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO R Jeffrey Bailly sold 42,941 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $45.14, for a total value of $1,938,356.74. Following the transaction, the chief executive officer now directly owns 431,972 shares of the company’s stock, valued at $19,499,216.08. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in UFPT. FMR LLC boosted its holdings in UFP Technologies by 61.0% in the first quarter. FMR LLC now owns 202,001 shares of the industrial products company’s stock valued at $7,555,000 after purchasing an additional 76,557 shares in the last quarter. BlackRock Inc. boosted its holdings in UFP Technologies by 17.2% in the second quarter. BlackRock Inc. now owns 419,673 shares of the industrial products company’s stock valued at $17,462,000 after purchasing an additional 61,634 shares in the last quarter. Vanguard Group Inc. boosted its holdings in UFP Technologies by 13.9% in the second quarter. Vanguard Group Inc. now owns 391,778 shares of the industrial products company’s stock valued at $16,301,000 after purchasing an additional 47,901 shares in the last quarter. Royal Bank of Canada boosted its holdings in UFP Technologies by 13.8% in the second quarter. Royal Bank of Canada now owns 56,073 shares of the industrial products company’s stock valued at $2,333,000 after purchasing an additional 6,800 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in UFP Technologies by 8.5% in the third quarter. Rhumbline Advisers now owns 10,015 shares of the industrial products company’s stock valued at $387,000 after purchasing an additional 783 shares in the last quarter. 71.79% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently commented on UFPT. ValuEngine downgraded UFP Technologies from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 4th. Zacks Investment Research raised UFP Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, BidaskClub raised UFP Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st.

About UFP Technologies

UFP Technologies, Inc designs and converts foams, plastics, composites, and natural fiber materials for the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets in the United States. It offers single patient use surfaces, advanced wound care, infection prevention, and disposables for surgical procedures, endoscopic procedures, orthopedic implants, orthopedic appliances, biopharma drug manufacturing, etc.; molded components automotive, aerospace, and defense markets; recycled protective packaging for B2C brands; and reusable cases and custom inserts.

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