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

UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report) was the target of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 615,200 shares, an increase of 26.8% from the October 15th total of 485,300 shares. Based on an average trading volume of 61,800 shares, the short-interest ratio is currently 10.0 days. Approximately 8.4% of the company's shares are short sold.

UFP Technologies Stock Down 2.3 %

NASDAQ UFPT traded down $7.24 on Friday, reaching $302.21. The stock had a trading volume of 22,429 shares, compared to its average volume of 61,143. The business has a 50 day moving average price of $310.39 and a 200 day moving average price of $294.76. UFP Technologies has a 1 year low of $152.43 and a 1 year high of $366.41. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 44.14 and a beta of 0.96. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64.

Insider Transactions at UFP Technologies

In other UFP Technologies news, CEO R Jeffrey Bailly sold 5,910 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $328.20, for a total transaction of $1,939,662.00. Following the sale, the chief executive officer now directly owns 74,134 shares of the company's stock, valued at approximately $24,330,778.80. This represents a 7.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jason Holt sold 146 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $342.69, for a total transaction of $50,032.74. Following the completion of the sale, the vice president now directly owns 6,721 shares in the company, valued at approximately $2,303,219.49. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,426 shares of company stock worth $8,932,331 in the last three months. Company insiders own 6.17% of the company's stock.

Institutional Investors Weigh In On UFP Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its position in 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 period. Northwest Investment Counselors LLC acquired a new position in shares of UFP Technologies in the third quarter valued at approximately $32,000. Advisors Asset Management Inc. bought a new stake in shares of UFP Technologies in the first quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of UFP Technologies during the 2nd quarter worth approximately $36,000. Finally, GAMMA Investing LLC increased its stake in UFP Technologies by 77.9% in the 3rd quarter. GAMMA Investing LLC now owns 137 shares of the industrial products company's stock valued at $43,000 after buying an additional 60 shares during the last quarter. 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.