UFP Technologies (NASDAQ:UFPT) Shares Pass Above 200 Day Moving Average – What’s Next?

Shares of UFP Technologies, Inc. (NASDAQ:UFPT) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $220.69 and traded as high as $252.63. UFP Technologies shares last traded at $251.14, with a volume of 197,973 shares.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on UFPT shares. Wall Street Zen lowered UFP Technologies from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Weiss Ratings restated a “hold (c)” rating on shares of UFP Technologies in a report on Wednesday, October 8th. Finally, Zacks Research raised UFP Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, UFP Technologies presently has an average rating of “Hold” and an average target price of $289.00.

UFP Technologies Stock Up 1.8%

The firm has a market cap of $1.94 billion, a P/E ratio of 29.10 and a beta of 1.11. The company has a current ratio of 2.41, a quick ratio of 1.36 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $236.29 and a 200-day moving average price of $220.69.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings results on Monday, November 3rd. The industrial products company reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.17. The business had revenue of $154.56 million for the quarter, compared to analysts’ expectations of $149.56 million. UFP Technologies had a net margin of 11.23% and a return on equity of 20.45%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year.

Insider Transactions at UFP Technologies

In other UFP Technologies news, SVP Christopher P. Litterio sold 1,829 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $227.20, for a total transaction of $415,548.80. Following the completion of the transaction, the senior vice president directly owned 10,756 shares in the company, valued at approximately $2,443,763.20. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On UFP Technologies

A number of institutional investors and hedge funds have recently modified their holdings of UFPT. Nisa Investment Advisors LLC increased its position in shares of UFP Technologies by 290.3% during the second quarter. Nisa Investment Advisors LLC now owns 121 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 90 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in UFP Technologies by 179.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 173 shares of the industrial products company’s stock worth $42,000 after buying an additional 111 shares during the last quarter. GAMMA Investing LLC increased its position in UFP Technologies by 37.6% during the second quarter. GAMMA Investing LLC now owns 183 shares of the industrial products company’s stock worth $45,000 after buying an additional 50 shares during the period. Canada Pension Plan Investment Board acquired a new position in UFP Technologies during the second quarter worth approximately $49,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in UFP Technologies in the third quarter valued at approximately $51,000. Institutional investors and hedge funds own 87.28% of the company’s stock.

About UFP Technologies

UFP Technologies, Inc (NASDAQ: UFPT) is a global designer and manufacturer of custom-engineered products using plastics, foams and adhesives. The company partners with customers to develop application-specific solutions through a range of in-house processes, including foam fabrication, die cutting, sheet processing, lamination, machining and assembly services. Its components find use in industries requiring precise material properties, such as medical devices, aerospace, defense, electronics and transportation.

Building on its origins as a specialty foam converter, UFP Technologies has expanded its capabilities to include advanced material technologies, such as thermal management and electromagnetic interference (EMI) shielding solutions.