Ranpak (NYSE:PACK) Shares Up 5% – Still a Buy?

Shares of Ranpak Holdings Corp. (NYSE:PACK) traded up 5% during trading on Thursday . The company traded as high as $7.07 and last traded at $6.74. 183,970 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 712,688 shares. The stock had previously closed at $6.42.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald assumed coverage on shares of Ranpak in a report on Thursday, December 19th. They issued an “overweight” rating and a $11.50 target price for the company.

Ranpak Trading Down 5.5 %

The business’s fifty day moving average is $6.90 and its 200-day moving average is $6.83. The firm has a market cap of $518.44 million, a P/E ratio of -25.95 and a beta of 2.59. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.36.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Quarry LP bought a new position in Ranpak in the 3rd quarter valued at approximately $39,000. KLP Kapitalforvaltning AS bought a new position in Ranpak in the 4th quarter valued at approximately $42,000. Quantbot Technologies LP bought a new position in Ranpak in the 3rd quarter valued at approximately $42,000. Two Sigma Securities LLC bought a new position in Ranpak in the 4th quarter valued at approximately $70,000. Finally, Glenmede Trust Co. NA bought a new position in Ranpak in the 3rd quarter valued at approximately $67,000. 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.