Ranpak Holdings Corp. (NYSE:PACK) Short Interest Down 22.9% in November

Ranpak Holdings Corp. (NYSE:PACK) saw a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 963,400 shares, a decline of 22.9% from the October 31st total of 1,250,000 shares. Based on an average daily trading volume, of 273,100 shares, the days-to-cover ratio is presently 3.5 days. Currently, 1.3% of the shares of the stock are short sold.

Institutional Trading of Ranpak

A number of institutional investors and hedge funds have recently bought and sold shares of PACK. Vanguard Group Inc. boosted its stake in Ranpak by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,333,187 shares of the company’s stock valued at $18,362,000 after purchasing an additional 25,073 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Ranpak by 8.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the company’s stock worth $231,000 after buying an additional 2,191 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Ranpak by 7.8% during the second quarter. Bank of New York Mellon Corp now owns 157,380 shares of the company’s stock valued at $1,012,000 after purchasing an additional 11,409 shares during the last quarter. Legato Capital Management LLC purchased a new stake in Ranpak in the second quarter worth approximately $91,000. Finally, Innealta Capital LLC bought a new stake in Ranpak in the 2nd quarter worth approximately $31,000. 85.94% of the stock is currently owned by institutional investors.

Ranpak Stock Down 0.8 %

Shares of NYSE PACK traded down $0.06 on Friday, reaching $7.79. 143,606 shares of the company’s stock traded hands, compared to its average volume of 305,519. The business’s 50 day simple moving average is $6.52 and its two-hundred day simple moving average is $6.62. Ranpak has a 12 month low of $3.85 and a 12 month high of $9.04. The company has a market cap of $648.57 million, a price-to-earnings ratio of -32.46 and a beta of 2.37. The company has a quick ratio of 2.01, a current ratio of 2.36 and a debt-to-equity ratio of 0.71.

Ranpak (NYSE:PACK) last released its earnings results on Thursday, October 31st. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. The company had revenue of $92.20 million during the quarter, compared to the consensus estimate of $90.76 million. During the same period last year, the firm posted ($0.03) earnings per share. The company’s revenue was up 11.4% compared to the same quarter last year.

Wall Street Analyst Weigh In

PACK has been the subject of several recent research reports. Baird R W downgraded Ranpak from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Robert W. Baird dropped their price objective on Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Friday, November 1st.

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.