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

Ranpak Holdings Corp. (NYSE:PACK - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $7.65, but opened at $7.31. Ranpak shares last traded at $7.51, with a volume of 89,724 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Robert W. Baird decreased their price target on Ranpak from $10.00 to $7.00 and set a "neutral" rating for the company in a research note on Friday, November 1st. Cantor Fitzgerald assumed coverage on Ranpak in a research note on Thursday, December 19th. They set an "overweight" rating and a $11.50 price target for the company.

Ranpak Price Performance

The business has a 50-day moving average price of $7.06 and a 200 day moving average price of $6.88. 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 Investors Weigh In On Ranpak

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Manatuck Hill Partners LLC acquired a new stake in shares of Ranpak during the 4th quarter valued at $791,000. Northern Trust Corp lifted its holdings in shares of Ranpak by 10.2% in the fourth quarter. Northern Trust Corp now owns 407,641 shares of the company's stock valued at $2,805,000 after purchasing an additional 37,652 shares in the last quarter. Boothbay Fund Management LLC lifted its holdings in shares of Ranpak by 25.4% in the fourth quarter. Boothbay Fund Management LLC now owns 537,124 shares of the company's stock valued at $3,695,000 after purchasing an additional 108,789 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Ranpak in the fourth quarter valued at $71,000. Finally, Two Sigma Securities LLC purchased a new stake in shares of Ranpak in the fourth quarter valued at $70,000. Institutional investors and hedge funds 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.