UFP Technologies (NASDAQ:UFPT) Shares Down 7.2% - Here's Why

UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report) shares were down 7.2% on Friday . The company traded as low as $263.23 and last traded at $259.73. Approximately 40,081 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 97,811 shares. The stock had previously closed at $279.94.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of UFP Technologies from a "hold" rating to a "sell" rating in a research note on Thursday, January 23rd.

UFP Technologies Price Performance

The firm has a 50 day moving average price of $262.91 and a two-hundred day moving average price of $295.82. The company has a market cap of $2.01 billion, a P/E ratio of 37.37 and a beta of 1.04. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.57.

Hedge Funds Weigh In On UFP Technologies

Several large investors have recently modified their holdings of the business. Zions Bancorporation N.A. lifted its stake in shares of UFP Technologies by 37.4% during the 4th quarter. Zions Bancorporation N.A. now owns 4,471 shares of the industrial products company's stock valued at $1,093,000 after buying an additional 1,217 shares in the last quarter. EFG Asset Management North America Corp. raised its holdings in UFP Technologies by 58.6% during the 4th quarter. EFG Asset Management North America Corp. now owns 8,537 shares of the industrial products company's stock valued at $2,089,000 after acquiring an additional 3,155 shares during the period. Congress Wealth Management LLC DE lifted its position in shares of UFP Technologies by 1.4% during the fourth quarter. Congress Wealth Management LLC DE now owns 40,530 shares of the industrial products company's stock worth $9,910,000 after acquiring an additional 578 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of UFP Technologies by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 557,479 shares of the industrial products company's stock worth $136,309,000 after acquiring an additional 17,356 shares during the period. Finally, Bridge City Capital LLC grew its position in shares of UFP Technologies by 29.4% in the fourth quarter. Bridge City Capital LLC now owns 14,453 shares of the industrial products company's stock valued at $3,534,000 after purchasing an additional 3,281 shares in the last quarter. Hedge funds and other institutional investors 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.