Ranpak (NYSE:PACK) Shares Down 7% - Should You Sell?

Ranpak Holdings Corp. (NYSE:PACK - Get Free Report)'s stock price dropped 7% during trading on Friday . The stock traded as low as $6.20 and last traded at $6.13. Approximately 28,009 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 735,604 shares. The stock had previously closed at $6.59.

Analyst Ratings Changes

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

Ranpak Price Performance

The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.36. The company has a market cap of $501.62 million, a price-to-earnings ratio of -25.10 and a beta of 2.59. The business has a fifty day moving average price of $6.85 and a 200 day moving average price of $6.80.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Ranpak by 9.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 82,534 shares of the company's stock valued at $568,000 after purchasing an additional 7,380 shares during the last quarter. ProShare Advisors LLC bought a new stake in shares of Ranpak during the fourth quarter worth $83,000. Meros Investment Management LP grew its stake in shares of Ranpak by 1.8% during the fourth quarter. Meros Investment Management LP now owns 956,225 shares of the company's stock worth $6,579,000 after buying an additional 16,834 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Ranpak by 58.6% during the fourth quarter. Millennium Management LLC now owns 185,203 shares of the company's stock worth $1,274,000 after buying an additional 68,451 shares in the last quarter. Finally, Graham Capital Management L.P. lifted its stake in shares of Ranpak by 42.1% in the 4th quarter. Graham Capital Management L.P. now owns 17,398 shares of the company's stock valued at $120,000 after acquiring an additional 5,155 shares during the last quarter. Institutional investors and hedge funds own 85.94% of the company's stock.

Remove Ads

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.