Ranpak (NYSE:PACK) Stock Price Down 8.9% – What’s Next?

Shares of Ranpak Holdings Corp (NYSE:PACK) traded down 8.9% during mid-day trading on Wednesday . The company traded as low as $5.79 and last traded at $5.86. Approximately 143,487 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 541,009 shares. The stock had previously closed at $6.43.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PACK shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ranpak in a report on Friday, July 17th. Wall Street Zen raised Ranpak from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Ranpak currently has an average rating of “Moderate Buy” and an average price target of $6.83.

Ranpak Trading Down 5.8%

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 firm has a market capitalization of $518.37 million, a PE ratio of -13.82 and a beta of 3.11. The stock’s 50-day simple moving average is $6.87 and its 200-day simple moving average is $5.53.

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

Institutional Investors Weigh In On Ranpak

Several hedge funds have recently made changes to their positions in the company. MQS Management LLC bought a new position in Ranpak in the first quarter worth $47,000. Engineers Gate Manager LP bought a new position in shares of Ranpak in the 2nd quarter worth about $49,000. Gamco Investors INC. ET AL lifted its position in Ranpak by 27.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company’s stock valued at $50,000 after acquiring an additional 3,050 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Ranpak during the fourth quarter worth about $55,000. Finally, Quantbot Technologies LP bought a new stake in Ranpak during the third quarter worth about $58,000. 85.94% of the stock is currently owned by institutional investors.

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.