Ranpak (NYSE:PACK) Stock Price Down 4.4% - Here's What Happened

Ranpak Holdings Corp. (NYSE:PACK - Get Free Report)'s stock price fell 4.4% on Thursday . The stock traded as low as $8.25 and last traded at $8.06. 435,851 shares traded hands during trading, a decline of 55% from the average session volume of 967,664 shares. The stock had previously closed at $8.43.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PACK. Robert W. Baird cut their target price on shares of Ranpak from $10.00 to $7.00 and set a "neutral" rating for the company in a report on Friday, November 1st. Cantor Fitzgerald began coverage on shares of Ranpak in a report on Thursday, December 19th. They set an "overweight" rating and a $11.50 target price for the company.

Ranpak Stock Performance

The company has a market cap of $604.11 million, a PE ratio of -30.23 and a beta of 2.41. The firm's fifty day moving average is $7.11 and its 200 day moving average is $6.84. The company has a current ratio of 2.36, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71.

Ranpak (NYSE:PACK - Get Free Report) last issued its quarterly 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). The company had revenue of $92.20 million during the quarter, compared to analysts' expectations of $90.76 million. Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. Ranpak's revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) EPS. As a group, research analysts predict that Ranpak Holdings Corp. will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Ranpak

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in shares of Ranpak during the third quarter worth $39,000. Quantbot Technologies LP purchased a new stake in shares of Ranpak during the third quarter worth $42,000. Glenmede Trust Co. NA purchased a new stake in shares of Ranpak during the third quarter worth $67,000. Paloma Partners Management Co purchased a new stake in shares of Ranpak during the third quarter worth $68,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Ranpak by 27.6% during the third quarter. BNP Paribas Financial Markets now owns 14,258 shares of the company's stock worth $93,000 after buying an additional 3,087 shares in the last quarter. Hedge funds and other 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.