UFP Technologies (NASDAQ:UFPT) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of UFP Technologies (NASDAQ:UFPT – Get Rating) in a research report released on Thursday morning. The firm issued a sell rating on the industrial products company’s stock.

Separately, Lake Street Capital boosted their target price on UFP Technologies from $124.00 to $131.00 and gave the company a buy rating in a research note on Wednesday, March 8th.

UFP Technologies Stock Down 2.0 %

Shares of UFP Technologies stock opened at $111.22 on Thursday. The stock’s fifty day moving average is $114.48 and its 200-day moving average is $107.17. The firm has a market capitalization of $843.05 million, a PE ratio of 20.33 and a beta of 0.76. The company has a quick ratio of 1.31, a current ratio of 2.19 and a debt-to-equity ratio of 0.30. UFP Technologies has a 12-month low of $60.38 and a 12-month high of $126.78.

Hedge Funds Weigh In On UFP Technologies

A number of hedge funds have recently modified their holdings of UFPT. Macquarie Group Ltd. acquired a new position in shares of UFP Technologies in the 4th quarter worth approximately $34,000. Lazard Asset Management LLC raised its holdings in shares of UFP Technologies by 169.2% in the 3rd quarter. Lazard Asset Management LLC now owns 428 shares of the industrial products company’s stock worth $36,000 after buying an additional 269 shares in the last quarter. Dorsey Wright & Associates acquired a new position in shares of UFP Technologies in the 4th quarter worth approximately $40,000. Point72 Asset Management L.P. acquired a new position in shares of UFP Technologies in the 4th quarter worth approximately $43,000. Finally, Citigroup Inc. raised its holdings in shares of UFP Technologies by 121.3% in the 4th quarter. Citigroup Inc. now owns 394 shares of the industrial products company’s stock worth $46,000 after buying an additional 216 shares in the last quarter. 80.34% of the stock is owned by institutional investors and hedge funds.

About UFP Technologies

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UFP Technologies, Inc engages in designing and custom manufacturing of components, subassemblies, products and packaging utilizing specialized foams, films, and plastics primarily for the medical market. The firm manufactures its products by converting raw materials using laminating, molding, radio frequency and impulse welding and fabricating manufacturing techniques. �It’s single-use and single-patient devices and components are used in a wide range of medical devices, disposable wound care products, infection prevention, minimally invasive surgery, wearables, orthopedic soft goods, and orthopedic implant packaging.