Ranpak (NYSE:PACK) Trading Down 5.6% – Here’s Why

by · The Markets Daily

Ranpak Holdings Corp. (NYSE:PACK – Get Free Report)’s share price traded down 5.6% on Wednesday . The company traded as low as $7.09 and last traded at $7.11. 122,749 shares changed hands during trading, a decline of 85% from the average session volume of 799,351 shares. The stock had previously closed at $7.53.

Analyst Upgrades and Downgrades

PACK has been the topic of several recent research reports. Cantor Fitzgerald assumed coverage on Ranpak in a report on Thursday, December 19th. They issued an “overweight” rating and a $11.50 price target on the stock. Robert W. Baird reduced their price target on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Friday, November 1st.

View Our Latest Stock Analysis on PACK

Ranpak Stock Performance

The company has a debt-to-equity ratio of 0.71, a current ratio of 2.36 and a quick ratio of 2.01. The stock has a fifty day moving average price of $7.02 and a two-hundred day moving average price of $6.87. The company has a market cap of $587.57 million, a P/E ratio of -29.40 and a beta of 2.40.

Institutional Trading of Ranpak

Several hedge funds have recently added to or reduced their stakes in PACK. Quarry LP bought a new position in shares of Ranpak in the third quarter worth $39,000. KLP Kapitalforvaltning AS acquired a new position in Ranpak during the 4th quarter valued at about $42,000. Quantbot Technologies LP bought a new stake in shares of Ranpak during the 3rd quarter worth about $42,000. Two Sigma Securities LLC acquired a new stake in shares of Ranpak in the 4th quarter worth approximately $70,000. Finally, Glenmede Trust Co. NA acquired a new stake in shares of Ranpak in the 3rd quarter worth approximately $67,000. Institutional investors own 85.94% of the company’s stock.

About Ranpak

(Get Free Report)

Ranpak Holdings Corp., together with its subsidiaries, provides product protection solutions and end-of-line automation solutions for e-commerce and industrial supply chains in North America, Europe, and Asia. The company offers protective packaging solutions, such as void-fill protective systems that convert paper to fill empty spaces in secondary packages and protect objects under the FillPak brand; cushioning protective systems, which convert paper into cushioning pads under the PadPak brand; and wrapping protective systems that create pads or paper mesh to wrap and protect fragile items, as well as to line boxes and provide separation when shipping various objects under the WrapPak, Geami, and ReadyRoll brands, as well as cold chain products, which are used to provide insulation for goods.

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