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

UFP Technologies, Inc. (NASDAQ:UFPT) saw a large growth in short interest in 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. Approximately 4.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 56,800 shares, the days-to-cover ratio is presently 5.4 days.

Analysts Set New Price Targets

UFPT has been the topic of several analyst reports. CJS Securities initiated coverage on shares of UFP Technologies in a research report on Wednesday, March 20th. They set an “outperform” rating and a $255.00 price target on the stock. Lake Street Capital increased their target price on shares of UFP Technologies from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Friday.

Institutional Trading of UFP Technologies

A number of institutional investors have recently bought and sold shares of UFPT. Federated Hermes Inc. boosted its position in shares of UFP Technologies by 98.6% during the 4th quarter. Federated Hermes Inc. now owns 147 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 73 shares in the last quarter. Yousif Capital Management LLC increased its stake in shares of UFP Technologies by 1.9% in the 4th quarter. Yousif Capital Management LLC now owns 4,061 shares of the industrial products company’s stock valued at $699,000 after acquiring an additional 74 shares in the last quarter. Moran Wealth Management LLC lifted its position in shares of UFP Technologies by 3.8% during the 4th quarter. Moran Wealth Management LLC now owns 2,165 shares of the industrial products company’s stock valued at $372,000 after acquiring an additional 80 shares during the period. Texas Permanent School Fund Corp boosted its stake in UFP Technologies by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 6,151 shares of the industrial products company’s stock worth $1,551,000 after acquiring an additional 81 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its stake in UFP Technologies by 2.3% in the first quarter. Illinois Municipal Retirement Fund now owns 4,035 shares of the industrial products company’s stock valued at $1,018,000 after purchasing an additional 90 shares in the last quarter. Institutional investors own 87.28% of the company’s stock.

UFP Technologies Stock Up 9.6 %

Shares of UFPT opened at $289.09 on Tuesday. UFP Technologies has a 12 month low of $127.29 and a 12 month high of $290.13. The company has a current ratio of 2.87, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2.22 billion, a PE ratio of 46.48 and a beta of 0.95. The stock’s 50-day moving average price is $251.98 and its two-hundred day moving average price is $216.05.

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

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.