Ranpak (NYSE:PACK) Stock Price Down 7% – Should You Sell?

Ranpak Holdings Corp. (NYSE:PACK) shares traded down 7% on Tuesday . The stock traded as low as $6.40 and last traded at $6.40. 99,823 shares traded hands during trading, a decline of 40% from the average session volume of 165,456 shares. The stock had previously closed at $6.88.

Analyst Ratings Changes

PACK has been the topic of several research reports. Robert W. Baird lowered their price objective on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Cantor Fitzgerald began coverage on Ranpak in a research note on Thursday, December 19th. They issued an “overweight” rating and a $11.50 target price on the stock.

Ranpak Price Performance

The firm’s 50 day moving average price is $7.18 and its two-hundred day moving average price is $6.85. 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 stock has a market cap of $544.50 million, a PE ratio of -27.25 and a beta of 2.41.

Ranpak (NYSE:PACK) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The business had revenue of $92.20 million during the quarter, compared to analysts’ expectations of $90.76 million. Ranpak had a negative net margin of 5.64% and a negative return on equity of 3.54%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.03) earnings per share.

Institutional Trading of Ranpak

Hedge funds and other institutional investors have recently bought and sold shares of the company. Meros Investment Management LP grew its holdings in shares of Ranpak by 32.6% during the second quarter. Meros Investment Management LP now owns 943,729 shares of the company’s stock worth $6,068,000 after purchasing an additional 231,779 shares in the last quarter. State Street Corp lifted its stake in Ranpak by 15.2% during the third quarter. State Street Corp now owns 1,133,277 shares of the company’s stock worth $7,400,000 after purchasing an additional 149,446 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Ranpak in the 3rd quarter worth about $222,000. Cubist Systematic Strategies LLC bought a new position in shares of Ranpak during the 2nd quarter valued at about $713,000. Finally, Barclays PLC raised its holdings in shares of Ranpak by 367.0% during the 3rd quarter. Barclays PLC now owns 73,116 shares of the company’s stock valued at $478,000 after buying an additional 57,461 shares in the last quarter. Institutional investors own 85.94% of the company’s stock.

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.