Ranpak (NYSE:PACK) Sees Strong Trading Volume – Here’s Why

Shares of Ranpak Holdings Corp (NYSE:PACK) saw unusually-strong trading volume on Wednesday . Approximately 743,484 shares traded hands during mid-day trading, an increase of 41% from the previous session’s volume of 528,562 shares.The stock last traded at $6.3180 and had previously closed at $5.91.

Wall Street Analyst Weigh In

PACK has been the subject of several recent research reports. Craig Hallum decreased their price target on Ranpak from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, March 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Ranpak in a research note on Friday, March 6th. UBS Group reissued an “overweight” rating on shares of Ranpak in a research report on Friday, March 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ranpak in a research report on Tuesday, April 21st. Finally, Wall Street Zen raised shares of Ranpak from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.83.

Ranpak Stock Performance

The stock has a market capitalization of $549.42 million, a P/E ratio of -14.74 and a beta of 3.06. The company has a quick ratio of 1.32, a current ratio of 1.73 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average price of $4.09 and a two-hundred day moving average price of $4.92.

Ranpak (NYSE:PACK) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). The firm had revenue of $101.20 million for the quarter, compared to analysts’ expectations of $91.59 million. Ranpak had a negative net margin of 9.28% and a negative return on equity of 7.04%. Equities analysts expect that Ranpak Holdings Corp will post -0.25 earnings per share for the current year.

Institutional Trading of Ranpak

Institutional investors and hedge funds have recently made changes to their positions in the stock. MQS Management LLC purchased a new position in Ranpak in the first quarter worth $47,000. Engineers Gate Manager LP purchased a new stake in Ranpak during the second quarter valued at about $49,000. Gamco Investors INC. ET AL raised its position in Ranpak by 27.9% during the second quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company’s stock valued at $50,000 after purchasing an additional 3,050 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ranpak in the 4th quarter worth about $55,000. Finally, Ballast Inc. bought a new position in shares of Ranpak during the 3rd quarter valued at about $56,000. Hedge funds and other institutional investors own 85.94% of the company’s stock.

About Ranpak

Ranpak Holdings Corp. (NYSE: PACK) is a leading provider of sustainable, paper-based packaging solutions designed to protect products during transit. The company’s core business centers on the design, manufacture and distribution of automated systems and consumable paper packaging materials that offer an eco-friendly alternative to plastic-based void-fill and protective packaging. Ranpak’s solutions include crumpled paper fillers, paper wrap systems and tailored automation equipment that serve diverse end markets such as e-commerce, industrial parts, electronics and retail.

Founded in 1972 and headquartered in Concord Township, Ohio, Ranpak has built a global presence by combining innovation in paper converting technology with a commitment to sustainability.