Ranpak (NYSE:PACK) Trading Down 8% – What’s Next?

Ranpak Holdings Corp (NYSE:PACK)’s share price was down 8% during mid-day trading on Thursday . The stock traded as low as $6.48 and last traded at $6.45. 285,393 shares changed hands during trading, a decline of 47% from the average session volume of 535,954 shares. The stock had previously closed at $7.01.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PACK. Wall Street Zen raised Ranpak from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ranpak in a report on Friday, July 17th. 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, the stock has an average rating of “Moderate Buy” and an average price target of $6.83.

Ranpak Stock Performance

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 has a market cap of $553.73 million, a PE ratio of -14.71 and a beta of 3.11. The company’s 50 day simple moving average is $6.83 and its 200 day simple moving average is $5.53.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC grew its stake in Ranpak by 4.2% in the 1st quarter. Empowered Funds LLC now owns 379,061 shares of the company’s stock valued at $2,055,000 after purchasing an additional 15,184 shares during the period. Geode Capital Management LLC raised its stake in shares of Ranpak by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,084,531 shares of the company’s stock worth $3,872,000 after purchasing an additional 30,529 shares during the period. XTX Topco Ltd bought a new stake in shares of Ranpak during the 2nd quarter worth $108,000. Gamco Investors INC. ET AL boosted its holdings in shares of Ranpak by 27.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company’s stock worth $50,000 after buying an additional 3,050 shares during the last quarter. Finally, Sei Investments Co. purchased a new position in shares of Ranpak in the 2nd quarter worth about $149,000. Hedge funds and other institutional investors own 85.94% of the company’s stock.

Ranpak Company Profile

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.