IT Tech Packaging (NYSE:ITP) Trading Up 39.5% – Still a Buy?

IT Tech Packaging, Inc. (NYSE:ITP) shares were up 39.5% during mid-day trading on Tuesday . The company traded as high as $0.2707 and last traded at $0.2612. Approximately 9,937,878 shares changed hands during trading, an increase of 858% from the average daily volume of 1,037,796 shares. The stock had previously closed at $0.1873.

IT Tech Packaging Trading Down 4.2%

The stock has a fifty day moving average of $0.20 and a 200-day moving average of $0.21. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.31 and a current ratio of 1.59. The company has a market cap of $3.44 million, a PE ratio of -0.21 and a beta of -0.25.

Hedge Funds Weigh In On IT Tech Packaging

A hedge fund recently bought a new stake in IT Tech Packaging stock. Financial Plan Inc. acquired a new stake in shares of IT Tech Packaging, Inc. (NYSE:ITP) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 135,000 shares of the company’s stock, valued at approximately $30,000. Financial Plan Inc. owned 0.80% of IT Tech Packaging as of its most recent SEC filing. 2.99% of the stock is owned by institutional investors and hedge funds.

About IT Tech Packaging

IT Tech Packaging, Inc (NYSE: ITP) is a global manufacturer of all-aluminum rigid packaging solutions, primarily serving the beauty, personal care, food and industrial markets. The company’s offering includes decorative and functional canisters, aerosol containers, tubes and closures that leverage corrosion-resistant, lightweight aluminum. By combining sheet-metal forming processes with proprietary printing and finishing technologies, IT Tech Packaging delivers premium packaging designed to meet both aesthetic and performance requirements.

Founded in the early 1990s and headquartered in the United States, IT Tech Packaging operates a network of production facilities across North America, Europe and Asia.