UFP Technologies (NASDAQ:UFPT) Shares Down 7% – Time to Sell?

UFP Technologies, Inc. (NASDAQ:UFPT)’s share price traded down 7% on Wednesday . The company traded as low as $317.86 and last traded at $319.57. 30,358 shares traded hands during trading, a decline of 50% from the average session volume of 61,107 shares. The stock had previously closed at $343.64.

Wall Street Analyst Weigh In

Separately, Lake Street Capital increased their price objective 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 firm has a fifty day moving average price of $310.37 and a 200 day moving average price of $293.70. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.43 and a current ratio of 2.56. The stock has a market cap of $2.42 billion, a PE ratio of 44.93 and a beta of 0.96.

Insider Activity

In related news, Director Cynthia L. Feldmann sold 647 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $352.30, for a total value of $227,938.10. Following the completion of the transaction, the director now owns 4,049 shares in the company, valued at $1,426,462.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO R Jeffrey Bailly sold 10,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $325.89, for a total value of $3,258,900.00. Following the completion of the transaction, the chief executive officer now owns 80,044 shares in the company, valued at $26,085,539.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Cynthia L. Feldmann sold 647 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $352.30, for a total value of $227,938.10. Following the completion of the transaction, the director now owns 4,049 shares of the company’s stock, valued at $1,426,462.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,747 shares of company stock worth $7,799,015. Insiders own 6.17% of the company’s stock.

Institutional Investors Weigh In On UFP Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC acquired a new stake in UFP Technologies during the 1st quarter worth about $448,000. Price T Rowe Associates Inc. MD grew its position in shares of UFP Technologies by 2,331.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,134 shares of the industrial products company’s stock valued at $10,879,000 after acquiring an additional 41,360 shares during the period. SG Americas Securities LLC grew its position in shares of UFP Technologies by 489.8% during the 1st quarter. SG Americas Securities LLC now owns 4,158 shares of the industrial products company’s stock valued at $1,049,000 after acquiring an additional 3,453 shares during the period. Sei Investments Co. grew its position in shares of UFP Technologies by 171.8% during the 1st quarter. Sei Investments Co. now owns 4,827 shares of the industrial products company’s stock valued at $1,217,000 after acquiring an additional 3,051 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in shares of UFP Technologies by 83.1% during the 1st quarter. Lord Abbett & CO. LLC now owns 74,510 shares of the industrial products company’s stock valued at $18,791,000 after acquiring an additional 33,806 shares during the period. 87.28% of the stock is owned by institutional investors and hedge funds.

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.