UFP Technologies (NASDAQ:UFPT) Shares Gap Down - Should You Sell?

UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $274.00, but opened at $267.00. UFP Technologies shares last traded at $267.00, with a volume of 1,667 shares.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital boosted their price target on UFP Technologies from $344.00 to $392.00 and gave the company a "buy" rating in a report on Wednesday, July 17th.

UFP Technologies Stock Performance

The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.14. The stock has a 50 day simple moving average of $312.31 and a 200 day simple moving average of $287.54. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 42.47 and a beta of 0.93.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.86 EPS for the quarter. UFP Technologies had a net margin of 11.87% and a return on equity of 17.53%. The business had revenue of $110.18 million during the quarter.

Insider Buying and Selling at UFP Technologies

In other news, CFO Ronald J. Lataille sold 4,798 shares of UFP Technologies stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $330.44, for a total transaction of $1,585,451.12. Following the sale, the chief financial officer now owns 41,332 shares of the company's stock, valued at approximately $13,657,746.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other UFP Technologies news, CFO Ronald J. Lataille sold 2,392 shares of UFP Technologies stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $329.04, for a total transaction of $787,063.68. Following the transaction, the chief financial officer now directly owns 38,940 shares in the company, valued at approximately $12,812,817.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ronald J. Lataille sold 4,798 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $330.44, for a total value of $1,585,451.12. Following the completion of the sale, the chief financial officer now directly owns 41,332 shares of the company's stock, valued at approximately $13,657,746.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,536 shares of company stock valued at $20,983,894 in the last ninety days. Company insiders own 6.17% of the company's stock.

Institutional Trading of UFP Technologies

A number of hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its position in UFP Technologies by 1,614.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 120 shares of the industrial products company's stock worth $30,000 after buying an additional 113 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of UFP Technologies during the third quarter worth $32,000. Advisors Asset Management Inc. acquired a new stake in shares of UFP Technologies during the 1st quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of UFP Technologies in the 2nd quarter valued at approximately $36,000. Finally, GAMMA Investing LLC increased its holdings in UFP Technologies by 77.9% in the third quarter. GAMMA Investing LLC now owns 137 shares of the industrial products company's stock worth $43,000 after buying an additional 60 shares during the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.

About UFP Technologies

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.