IT Tech Packaging (NYSE:ITP) Trading Up 39.5% – Here’s What Happened

IT Tech Packaging, Inc. (NYSE:ITP) was up 39.5% on Tuesday . The stock traded as high as $0.2707 and last traded at $0.2612. Approximately 9,937,878 shares changed hands during mid-day trading, an increase of 858% from the average daily volume of 1,037,796 shares. The stock had previously closed at $0.1873.

IT Tech Packaging Price Performance

The company has a market cap of $4.43 million, a P/E ratio of -0.27 and a beta of -0.25. The company has a fifty day moving average price of $0.20 and a two-hundred day moving average price of $0.21. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.31 and a current ratio of 1.59.

Hedge Funds Weigh In On IT Tech Packaging

A hedge fund recently bought a new stake in IT Tech Packaging stock. DRW Securities LLC acquired a new stake in IT Tech Packaging, Inc. (NYSE:ITP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 199,862 shares of the company’s stock, valued at approximately $44,000. DRW Securities LLC owned approximately 1.18% of IT Tech Packaging at the end of the most recent reporting period. Institutional investors and hedge funds own 2.99% of the company’s stock.

About IT Tech Packaging

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.