UFP Technologies, Inc. (NASDAQ:UFPT) Short Interest Update

UFP Technologies, Inc. (NASDAQ:UFPT) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 307,800 shares, a growth of 24.6% from the May 31st total of 247,100 shares. Based on an average daily volume of 56,800 shares, the days-to-cover ratio is currently 5.4 days. Approximately 4.3% of the company’s stock are short sold.

Analysts Set New Price Targets

Several research firms have issued reports on UFPT. Lake Street Capital lifted their price target on UFP Technologies from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Friday. CJS Securities began coverage on UFP Technologies in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $255.00 price target on the stock.

UFP Technologies Price Performance

NASDAQ:UFPT opened at $263.87 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 2.87. The stock’s 50-day simple moving average is $250.46 and its 200 day simple moving average is $215.27. The company has a market cap of $2.02 billion, a P/E ratio of 42.42 and a beta of 0.95. UFP Technologies has a 52-week low of $127.29 and a 52-week high of $270.72.

UFP Technologies (NASDAQ:UFPT) last released its earnings results on Wednesday, May 1st. The industrial products company reported $1.66 earnings per share (EPS) for the quarter. The business had revenue of $105.01 million for the quarter. UFP Technologies had a return on equity of 17.40% and a net margin of 11.75%.

Institutional Trading of UFP Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its position in shares of UFP Technologies by 1,614.3% in the first quarter. EverSource Wealth Advisors LLC now owns 120 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 113 shares during the last quarter. Swedbank AB acquired a new stake in shares of UFP Technologies in the first quarter valued at about $25,220,000. Tidal Investments LLC acquired a new stake in shares of UFP Technologies in the first quarter valued at about $448,000. Price T Rowe Associates Inc. MD increased its position in shares of UFP Technologies by 2,331.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,134 shares of the industrial products company’s stock valued at $10,879,000 after acquiring an additional 41,360 shares during the last quarter. Finally, Advisors Asset Management Inc. bought a new position in UFP Technologies during the first quarter worth about $35,000. Institutional investors and hedge funds own 87.28% of the company’s stock.

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.