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

Ranpak Holdings Corp (NYSE:PACK)’s share price gapped down before the market opened on Monday . The stock had previously closed at $6.81, but opened at $6.60. Ranpak shares last traded at $6.6350, with a volume of 26,344 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have weighed in on PACK. Weiss Ratings restated a “sell (d-)” rating on shares of Ranpak in a report on Tuesday, April 21st. Wall Street Zen raised shares of Ranpak from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Ranpak has a consensus rating of “Moderate Buy” and a consensus price target of $6.83.

Ranpak Trading Down 2.2%

The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.32 and a current ratio of 1.73. The stock’s fifty day moving average is $6.78 and its 200 day moving average is $5.49. The stock has a market cap of $569.70 million, a P/E ratio of -15.16 and a beta of 3.11.

Ranpak (NYSE:PACK) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.01). Ranpak had a negative return on equity of 7.04% and a negative net margin of 9.28%.The company had revenue of $101.20 million for the quarter, compared to the consensus estimate of $91.59 million. As a group, equities research analysts predict that Ranpak Holdings Corp will post -0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ranpak

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MQS Management LLC bought a new stake in shares of Ranpak in the 1st quarter valued at about $47,000. Engineers Gate Manager LP purchased a new position in Ranpak during the second quarter valued at approximately $49,000. Gamco Investors INC. ET AL increased its holdings 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 buying an additional 3,050 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Ranpak in the fourth quarter worth approximately $55,000. Finally, Quantbot Technologies LP bought a new position in Ranpak in the third quarter worth approximately $58,000. 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.