Ranpak (NYSE:PACK) Shares Gap Down – What’s Next?

Ranpak Holdings Corp. (NYSE:PACK) gapped down prior to trading on Wednesday . The stock had previously closed at $7.65, but opened at $7.31. Ranpak shares last traded at $7.51, with a volume of 89,724 shares.

Analyst Upgrades and Downgrades

Several research firms recently commented on PACK. Cantor Fitzgerald started coverage on shares of Ranpak in a research note on Thursday, December 19th. They issued an “overweight” rating and a $11.50 price target on the stock. Robert W. Baird reduced their target price on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st.

Ranpak Stock Performance

The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.36. The business has a 50-day moving average price of $7.07 and a 200-day moving average price of $6.87.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Management LLC lifted its position in shares of Ranpak by 50.3% in the 4th quarter. MetLife Investment Management LLC now owns 24,896 shares of the company’s stock worth $171,000 after purchasing an additional 8,335 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Ranpak by 8.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,569,282 shares of the company’s stock worth $17,677,000 after buying an additional 198,973 shares during the period. Gabelli Funds LLC boosted its position in Ranpak by 23.1% during the 4th quarter. Gabelli Funds LLC now owns 80,000 shares of the company’s stock valued at $550,000 after acquiring an additional 15,000 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Ranpak in the 4th quarter valued at $141,000. Finally, Rockefeller Capital Management L.P. purchased a new stake in shares of Ranpak during the 4th quarter worth $312,000. Hedge funds and other institutional investors own 85.94% of the company’s stock.

Ranpak Company Profile

Ranpak Holdings Corp., together with its subsidiaries, provides product protection solutions and end-of-line automation solutions for e-commerce and industrial supply chains in North America, Europe, and Asia. The company offers protective packaging solutions, such as void-fill protective systems that convert paper to fill empty spaces in secondary packages and protect objects under the FillPak brand; cushioning protective systems, which convert paper into cushioning pads under the PadPak brand; and wrapping protective systems that create pads or paper mesh to wrap and protect fragile items, as well as to line boxes and provide separation when shipping various objects under the WrapPak, Geami, and ReadyRoll brands, as well as cold chain products, which are used to provide insulation for goods.