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

Ranpak Holdings Corp. (NYSE:PACK)’s stock price traded up 5% during trading on Thursday . The company traded as high as $7.07 and last traded at $6.74. 183,970 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 712,688 shares. The stock had previously closed at $6.42.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald initiated coverage on shares of Ranpak in a research note on Thursday, December 19th. They issued an “overweight” rating and a $11.50 price objective for the company.

Ranpak Price Performance

The company has a current ratio of 2.36, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The stock has a fifty day simple moving average of $6.91 and a 200-day simple moving average of $6.83. The stock 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%. As a group, equities research analysts expect that Ranpak Holdings Corp. will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Ranpak

A number of institutional investors have recently added to or reduced their stakes in PACK. ArrowMark Colorado Holdings LLC lifted its position in shares of Ranpak by 3.4% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 3,125,019 shares of the company’s stock worth $21,500,000 after acquiring an additional 102,804 shares during the period. G2 Investment Partners Management LLC lifted its position in Ranpak by 28.7% in the fourth quarter. G2 Investment Partners Management LLC now owns 3,070,511 shares of the company’s stock worth $21,125,000 after purchasing an additional 683,851 shares during the period. Dimensional Fund Advisors LP boosted its stake in Ranpak by 8.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,569,282 shares of the company’s stock worth $17,677,000 after buying an additional 198,973 shares in the last quarter. Vanguard Group Inc. increased its holdings in Ranpak by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 2,543,196 shares of the company’s stock valued at $17,497,000 after buying an additional 49,102 shares during the period. Finally, 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 buying an additional 149,446 shares during the period. 85.94% of the stock is owned by institutional investors and hedge funds.

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.