Ranpak (NYSE:PACK) Stock Price Down 7% – Time to Sell?

Ranpak Holdings Corp. (NYSE:PACK) was down 7% on Tuesday . The company traded as low as $6.40 and last traded at $6.40. Approximately 99,823 shares changed hands during trading, a decline of 40% from the average daily volume of 165,456 shares. The stock had previously closed at $6.88.

Analyst Upgrades and Downgrades

PACK has been the topic of several research analyst reports. Cantor Fitzgerald assumed coverage on Ranpak in a research report on Thursday, December 19th. They issued an “overweight” rating and a $11.50 price objective for the company. Robert W. Baird cut their price target on Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Friday, November 1st.

Ranpak Trading Down 1.2 %

The business has a fifty day moving average price of $7.21 and a 200-day moving average price of $6.85. The company has a quick ratio of 2.01, a current ratio of 2.36 and a debt-to-equity ratio of 0.71. The company has a market cap of $542.84 million, a P/E ratio of -27.17 and a beta of 2.41.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its position in Ranpak by 8.8% in the second quarter. The Manufacturers Life Insurance Company now owns 18,098 shares of the company’s stock valued at $116,000 after buying an additional 1,464 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Ranpak by 27.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 14,258 shares of the company’s stock valued at $93,000 after acquiring an additional 3,087 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Ranpak by 15.6% in the 3rd quarter. Franklin Resources Inc. now owns 28,900 shares of the company’s stock valued at $183,000 after acquiring an additional 3,909 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Ranpak by 1.8% during the 3rd quarter. GSA Capital Partners LLP now owns 289,721 shares of the company’s stock valued at $1,892,000 after acquiring an additional 5,254 shares in the last quarter. Finally, Quarry LP bought a new stake in Ranpak during the 3rd quarter worth $39,000. Institutional investors own 85.94% of the company’s stock.

About Ranpak

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.