Ranpak (NYSE:PACK) Shares Up 5% – Here’s Why

Ranpak Holdings Corp. (NYSE:PACK) was up 5% on Thursday . The stock traded as high as $7.07 and last traded at $6.74. Approximately 183,970 shares were traded during trading, a decline of 74% from the average daily volume of 712,688 shares. The stock had previously closed at $6.42.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald started coverage on Ranpak in a report on Thursday, December 19th. They issued an “overweight” rating and a $11.50 target price on the stock.

Ranpak Trading Up 1.5 %

The company’s 50-day moving average is $6.91 and its 200-day moving average is $6.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.36. The firm has a market cap of $542.42 million, a price-to-earnings ratio of -27.15 and a beta of 2.59.

Ranpak (NYSE:PACK) last announced its earnings results on Thursday, March 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.09). Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. On average, research analysts predict that Ranpak Holdings Corp. will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Ranpak

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new stake in Ranpak in the third quarter worth about $39,000. Quantbot Technologies LP bought a new position in shares of Ranpak in the 3rd quarter valued at about $42,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Ranpak during the 4th quarter worth approximately $42,000. Glenmede Trust Co. NA bought a new stake in shares of Ranpak during the third quarter worth approximately $67,000. Finally, Paloma Partners Management Co bought a new position in Ranpak in the third quarter valued at approximately $68,000. Institutional investors own 85.94% of the company’s stock.

About Ranpak

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.