Ranpak (NYSE:PACK) Shares Down 5.6% – Should You Sell?

Ranpak Holdings Corp. (NYSE:PACK) shares dropped 5.6% on Wednesday . The stock traded as low as $7.09 and last traded at $7.11. Approximately 122,749 shares traded hands during trading, a decline of 85% from the average daily volume of 799,351 shares. The stock had previously closed at $7.53.

Wall Street Analyst Weigh In

PACK has been the subject of several analyst reports. 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 research report on Friday, November 1st. Cantor Fitzgerald initiated coverage on shares of Ranpak in a research report on Thursday, December 19th. They set an “overweight” rating and a $11.50 price target for the company.

Ranpak Stock Down 4.8 %

The company has a quick ratio of 2.01, a current ratio of 2.36 and a debt-to-equity ratio of 0.71. The company’s fifty day moving average is $7.04 and its 200-day moving average is $6.87. The company has a market cap of $596.56 million, a PE ratio of -29.85 and a beta of 2.40.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Ranpak by 185.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 363,815 shares of the company’s stock valued at $2,376,000 after acquiring an additional 236,398 shares during the last quarter. Barclays PLC increased its holdings in Ranpak by 367.0% in the 3rd quarter. Barclays PLC now owns 73,116 shares of the company’s stock valued at $478,000 after acquiring an additional 57,461 shares during the last quarter. State Street Corp increased its holdings in Ranpak by 15.2% in the 3rd quarter. State Street Corp now owns 1,133,277 shares of the company’s stock valued at $7,400,000 after acquiring an additional 149,446 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Ranpak in the 3rd quarter worth about $222,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Ranpak by 22.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,154 shares of the company’s stock worth $491,000 after buying an additional 13,767 shares during the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

Ranpak Company Profile

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.