UFP Technologies, Inc. (NASDAQ:UFPT) Sees Significant Increase in Short Interest – MarketBeat

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UFP Technologies, Inc. (NASDAQ:UFPT – Get Rating) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 162,000 shares, an increase of 20.9% from the May 31st total of 134,000 shares. Currently, 2.5% of the company’s shares are short sold. Based on an average daily volume of 30,700 shares, the short-interest ratio is currently 5.3 days.
UFPT opened at $79.25 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.54 and a quick ratio of 1.42. The business has a 50 day simple moving average of $75.12 and a 200-day simple moving average of $71.11. The stock has a market capitalization of $599.29 million, a P/E ratio of 36.35 and a beta of 0.81. UFP Technologies has a 12 month low of $56.10 and a 12 month high of $87.83.
UFP Technologies (NASDAQ:UFPT – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The industrial products company reported $0.64 earnings per share for the quarter. The company had revenue of $71.24 million during the quarter. UFP Technologies had a return on equity of 8.72% and a net margin of 7.24%.
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A number of hedge funds have recently bought and sold shares of the business. Moors & Cabot Inc. acquired a new position in shares of UFP Technologies during the third quarter worth about $57,000. Amalgamated Bank bought a new stake in UFP Technologies in the first quarter valued at about $57,000. BNP Paribas Arbitrage SA increased its holdings in UFP Technologies by 67.6% in the fourth quarter. BNP Paribas Arbitrage SA now owns 2,526 shares of the industrial products company’s stock valued at $177,000 after buying an additional 1,019 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in UFP Technologies in the first quarter valued at about $210,000. Finally, MetLife Investment Management LLC increased its holdings in UFP Technologies by 57.2% in the first quarter. MetLife Investment Management LLC now owns 3,189 shares of the industrial products company’s stock valued at $211,000 after buying an additional 1,161 shares during the last quarter. 86.06% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently issued reports on UFPT. StockNews.com lowered UFP Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, June 23rd. Colliers Securities reaffirmed a “buy” rating on shares of UFP Technologies in a research report on Tuesday, March 22nd. Finally, Lake Street Capital initiated coverage on UFP Technologies in a report on Wednesday, June 22nd. They issued a “buy” rating and a $110.00 price objective on the stock.
UFP Technologies Company Profile (Get Rating)
UFP Technologies, Inc designs and custom manufactures components, subassemblies, products, and packaging utilizing specialized foams, films, and plastics primarily for the medical market. Its single-use and single-patient devices and components are used in a range of medical devices, disposable wound care products, infection prevention, minimally invasive surgery, wearables, orthopedic soft goods, and orthopedic implant packaging.
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