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

UFP Technologies, Inc. (NASDAQ:UFPT) saw a significant drop in short interest in June. As of June 15th, there was short interest totalling 51,800 shares, a drop of 10.2% from the May 15th total of 57,700 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 27,500 shares, the short-interest ratio is currently 1.9 days.

In other news, insider R Jeffrey Bailly sold 7,680 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $38.70, for a total transaction of $297,216.00. Following the completion of the sale, the insider now owns 495,722 shares of the company’s stock, valued at $19,184,441.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 16,219 shares of company stock valued at $626,302. Company insiders own 11.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Quantum Capital Management increased its stake in shares of UFP Technologies by 0.7% during the 1st quarter. Quantum Capital Management now owns 47,689 shares of the industrial products company’s stock worth $1,784,000 after purchasing an additional 335 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of UFP Technologies by 545.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,387 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 1,172 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of UFP Technologies by 13.1% during the 1st quarter. Acadian Asset Management LLC now owns 11,430 shares of the industrial products company’s stock worth $428,000 after purchasing an additional 1,320 shares during the last quarter. Anchor Capital Advisors LLC increased its stake in shares of UFP Technologies by 4.5% during the 1st quarter. Anchor Capital Advisors LLC now owns 42,696 shares of the industrial products company’s stock worth $1,597,000 after purchasing an additional 1,831 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY acquired a new position in shares of UFP Technologies during the 4th quarter worth about $70,000. Hedge funds and other institutional investors own 70.73% of the company’s stock.

A number of analysts recently weighed in on the stock. ValuEngine raised shares of VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Zacks Investment Research raised shares of HB Fuller from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Finally, BidaskClub lowered shares of Virtu Financial from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 12th.

Shares of NASDAQ UFPT traded down $0.02 during midday trading on Friday, reaching $41.89. 26,026 shares of the stock were exchanged, compared to its average volume of 38,379. The business’s 50-day moving average is $40.25. The stock has a market capitalization of $311.12 million, a P/E ratio of 19.95 and a beta of 0.53. UFP Technologies has a 12 month low of $27.80 and a 12 month high of $42.94. The company has a quick ratio of 1.88, a current ratio of 2.90 and a debt-to-equity ratio of 0.15.

UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.40 by $0.10. UFP Technologies had a net margin of 8.35% and a return on equity of 11.79%. The business had revenue of $47.33 million for the quarter, compared to analysts’ expectations of $45.10 million. Equities research analysts anticipate that UFP Technologies will post 2.22 earnings per share for the current year.

UFP Technologies Company Profile

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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