Ranpak (NYSE:PACK) Shares Down 1.4% – Time to Sell?

Shares of Ranpak Holdings Corp (NYSE:PACK) were down 1.4% during trading on Wednesday. The stock traded as low as $3.81 and last traded at $3.9150. Approximately 659,319 shares were traded during trading, an increase of 25% from the average session volume of 527,890 shares. The stock had previously closed at $3.97.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Ranpak in a report on Friday, July 17th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.00.

Ranpak Trading Down 4.9%

The company has a debt-to-equity ratio of 0.76, a current ratio of 1.79 and a quick ratio of 1.39. The business’s 50-day moving average is $4.62 and its 200 day moving average is $5.38. The firm has a market capitalization of $318.16 million, a P/E ratio of -8.43 and a beta of 3.14.

Ranpak (NYSE:PACK) last announced its earnings results on Thursday, July 30th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). Ranpak had a negative return on equity of 7.18% and a negative net margin of 9.09%.The business had revenue of $105.20 million for the quarter, compared to analyst estimates of $100.94 million. As a group, analysts anticipate that Ranpak Holdings Corp will post -0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Ranpak

A number of hedge funds have recently added to or reduced their stakes in PACK. Sequoia Financial Advisors LLC acquired a new position in Ranpak in the 2nd quarter valued at $116,000. Squarepoint Ops LLC bought a new position in shares of Ranpak in the second quarter worth $585,000. JS Capital Management LLC bought a new position in shares of Ranpak in the second quarter worth $223,180,857. Bank of New York Mellon Corp bought a new position in shares of Ranpak in the second quarter worth $1,045,000. Finally, Bank of America Corp DE raised its stake in Ranpak by 84.1% in the first quarter. Bank of America Corp DE now owns 98,213 shares of the company’s stock valued at $351,000 after purchasing an additional 44,871 shares in the last quarter. Institutional investors own 85.94% of the company’s stock.

About Ranpak

Ranpak Holdings Corp. (NYSE: PACK) is a provider of sustainable, paper-based packaging solutions designed to protect products during shipping, handling and storage. The company develops and manufactures packaging systems and materials that serve as alternatives to plastic-based protective packaging.

Its product portfolio includes paper cushioning, wrapping and void-fill solutions, as well as dispensing equipment and automated packaging systems. Ranpak’s offerings include products marketed under brands such as PadPak, FillPak, WrapPak and Geami, which are used to cushion items, fill empty space in shipping containers and wrap products for protection.

Ranpak serves customers across e-commerce, retail, industrial manufacturing, food and beverage, automotive, healthcare and other markets.