Ranpak (NYSE:PACK) Stock Price Up 5% - What's Next?

Ranpak Holdings Corp. (NYSE:PACK - Get Free Report)'s share price rose 5% on Thursday . The stock traded as high as $7.07 and last traded at $6.74. Approximately 183,970 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 712,688 shares. The stock had previously closed at $6.42.

Analyst Ratings Changes

Separately, Cantor Fitzgerald initiated coverage on 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 firm has a market capitalization of $479.14 million, a PE ratio of -23.98 and a beta of 2.59. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.36 and a quick ratio of 2.01. The firm has a fifty day moving average price of $6.87 and a 200 day moving average price of $6.81.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Quarry LP acquired a new position in Ranpak during the third quarter valued at $39,000. Quantbot Technologies LP acquired a new position in Ranpak during the third quarter valued at $42,000. KLP Kapitalforvaltning AS acquired a new position in Ranpak during the fourth quarter valued at $42,000. Glenmede Trust Co. NA acquired a new position in Ranpak during the third quarter valued at $67,000. Finally, Paloma Partners Management Co acquired a new position in Ranpak during the third quarter valued at $68,000. 85.94% of the stock is owned by institutional investors and hedge funds.

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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.