Ranpak (NYSE:PACK) Stock Price Down 5.6% - Here's What Happened

Ranpak Holdings Corp. (NYSE:PACK - Get Free Report) traded down 5.6% during mid-day trading on Wednesday . The company traded as low as $7.09 and last traded at $7.11. 122,749 shares changed hands during trading, a decline of 85% from the average session volume of 799,351 shares. The stock had previously closed at $7.53.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Robert W. Baird dropped their price objective on shares of Ranpak from $10.00 to $7.00 and set a "neutral" rating on the stock in a report on Friday, November 1st. Cantor Fitzgerald started coverage on Ranpak in a research note on Thursday, December 19th. They set an "overweight" rating and a $11.50 price objective on the stock.

Ranpak Stock Down 3.9 %

The firm has a market cap of $587.57 million, a price-to-earnings ratio of -29.40 and a beta of 2.40. The firm has a fifty day simple moving average of $7.01 and a 200-day simple moving average of $6.87. 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 bought and sold shares of the stock. Quarry LP bought a new stake in shares of Ranpak during the third quarter worth approximately $39,000. Quantbot Technologies LP bought a new stake in Ranpak in the 3rd quarter valued at $42,000. KLP Kapitalforvaltning AS acquired a new position in Ranpak in the 4th quarter valued at $42,000. Glenmede Trust Co. NA bought a new position in Ranpak during the 3rd quarter worth $67,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Ranpak during the third quarter worth $68,000. 85.94% of the stock is owned by institutional investors.

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.