IT Tech Packaging (NYSE:ITP) Shares Up 16.8% – Still a Buy?

IT Tech Packaging, Inc. (NYSE:ITP)’s stock price shot up 16.8% on Tuesday . The stock traded as high as $0.2217 and last traded at $0.2115. 3,416,735 shares traded hands during trading, an increase of 1,368% from the average session volume of 232,774 shares. The stock had previously closed at $0.1811.

IT Tech Packaging Stock Up 16.8%

The company has a fifty day moving average of $0.20 and a two-hundred day moving average of $0.23. The company has a market cap of $3.59 million, a PE ratio of -0.22 and a beta of -0.38. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.31 and a current ratio of 1.59.

Institutional Trading of IT Tech Packaging

An institutional investor recently bought a new position in IT Tech Packaging stock. DRW Securities LLC acquired a new stake in IT Tech Packaging, Inc. (NYSE:ITP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 199,862 shares of the company’s stock, valued at approximately $44,000. DRW Securities LLC owned about 1.18% of IT Tech Packaging as of its most recent SEC filing. Institutional investors and hedge funds own 2.99% of the company’s stock.

IT Tech Packaging Company Profile

IT Tech Packaging, Inc (NYSE: ITP) is a global manufacturer of all-aluminum rigid packaging solutions, primarily serving the beauty, personal care, food and industrial markets. The company’s offering includes decorative and functional canisters, aerosol containers, tubes and closures that leverage corrosion-resistant, lightweight aluminum. By combining sheet-metal forming processes with proprietary printing and finishing technologies, IT Tech Packaging delivers premium packaging designed to meet both aesthetic and performance requirements.

Founded in the early 1990s and headquartered in the United States, IT Tech Packaging operates a network of production facilities across North America, Europe and Asia.