UFP Technologies (NASDAQ:UFPT) Stock Price Passes Above 200 Day Moving Average of $77.93

UFP Technologies, Inc. (NASDAQ:UFPTGet Rating)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $77.93 and traded as high as $92.05. UFP Technologies shares last traded at $89.65, with a volume of 45,705 shares traded.

Analyst Ratings Changes

Several analysts have weighed in on UFPT shares. Lake Street Capital started coverage on shares of UFP Technologies in a research report on Wednesday, June 22nd. They set a “buy” rating and a $110.00 target price on the stock. StockNews.com downgraded shares of UFP Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, September 13th.

UFP Technologies Price Performance

The firm’s fifty day moving average price is $89.62 and its 200 day moving average price is $78.09. The firm has a market capitalization of $673.20 million, a PE ratio of 32.58 and a beta of 0.70. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 0.46.

Insider Activity at UFP Technologies

In related news, SVP Christopher P. Litterio sold 5,500 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $95.90, for a total value of $527,450.00. Following the completion of the transaction, the senior vice president now directly owns 14,624 shares in the company, valued at approximately $1,402,441.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 10.24% of the company’s stock.

Hedge Funds Weigh In On UFP Technologies

Several large investors have recently made changes to their positions in the company. Neuberger Berman Group LLC raised its position in UFP Technologies by 94.1% during the first quarter. Neuberger Berman Group LLC now owns 451,794 shares of the industrial products company’s stock worth $29,895,000 after acquiring an additional 219,009 shares during the period. Loomis Sayles & Co. L P acquired a new position in UFP Technologies during the fourth quarter worth $5,619,000. Victory Capital Management Inc. raised its position in UFP Technologies by 105.2% during the first quarter. Victory Capital Management Inc. now owns 105,679 shares of the industrial products company’s stock worth $6,993,000 after acquiring an additional 54,190 shares during the period. Applied Fundamental Research LLC raised its position in UFP Technologies by 11.9% during the first quarter. Applied Fundamental Research LLC now owns 371,044 shares of the industrial products company’s stock worth $24,552,000 after acquiring an additional 39,449 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in UFP Technologies by 37.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 121,668 shares of the industrial products company’s stock worth $9,681,000 after acquiring an additional 32,953 shares during the period. 83.23% of the stock is currently owned by institutional investors and hedge funds.

About UFP Technologies

(Get Rating)

UFP Technologies, Inc designs and custom manufactures components, subassemblies, products, and packaging utilizing specialized foams, films, and plastics primarily for the medical market. Its single-use and single-patient devices and components are used in a range of medical devices, disposable wound care products, infection prevention, minimally invasive surgery, wearables, orthopedic soft goods, and orthopedic implant packaging.

Further Reading

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