Ranpak (NYSE:PACK) Sees Strong Trading Volume – Time to Buy?

Ranpak Holdings Corp (NYSE:PACK) shares saw unusually-high trading volume on Wednesday . Approximately 743,484 shares changed hands during trading, an increase of 41% from the previous session’s volume of 528,562 shares.The stock last traded at $6.3180 and had previously closed at $5.91.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PACK. Cantor Fitzgerald restated an “overweight” rating on shares of Ranpak in a research note on Friday, March 6th. Wall Street Zen upgraded Ranpak from a “sell” rating to a “hold” rating in a research note on Saturday. UBS Group reissued an “overweight” rating on shares of Ranpak in a report on Friday, March 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ranpak in a report on Tuesday, April 21st. Finally, Craig Hallum lowered their price target on shares of Ranpak from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, March 6th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.83.

Ranpak Stock Up 5.7%

The business’s fifty day simple moving average is $4.05 and its 200 day simple moving average is $4.90. The company has a current ratio of 1.73, a quick ratio of 1.32 and a debt-to-equity ratio of 0.76. The stock has a market cap of $529.08 million, a price-to-earnings ratio of -14.19 and a beta of 3.06.

Ranpak (NYSE:PACK) last released its earnings results on Thursday, April 30th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). Ranpak had a negative return on equity of 7.04% and a negative net margin of 9.28%.The business had revenue of $101.20 million for the quarter, compared to analyst estimates of $91.59 million. Equities analysts forecast that Ranpak Holdings Corp will post -0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ranpak

Large investors have recently bought and sold shares of the company. Granite Investment Partners LLC boosted its stake in shares of Ranpak by 35.6% during the 1st quarter. Granite Investment Partners LLC now owns 37,631 shares of the company’s stock worth $134,000 after buying an additional 9,889 shares during the last quarter. MQS Management LLC acquired a new stake in shares of Ranpak in the first quarter valued at approximately $47,000. Inspire Investing LLC raised its position in shares of Ranpak by 63.4% in the first quarter. Inspire Investing LLC now owns 144,005 shares of the company’s stock valued at $514,000 after buying an additional 55,854 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in shares of Ranpak in the fourth quarter valued at approximately $59,000. Finally, Empowered Funds LLC raised its position in shares of Ranpak by 6.0% in the fourth quarter. Empowered Funds LLC now owns 498,623 shares of the company’s stock valued at $2,698,000 after buying an additional 28,056 shares in the last quarter. Institutional investors and hedge funds own 85.94% of the company’s stock.

About Ranpak

Ranpak Holdings Corp. (NYSE: PACK) is a leading provider of sustainable, paper-based packaging solutions designed to protect products during transit. The company’s core business centers on the design, manufacture and distribution of automated systems and consumable paper packaging materials that offer an eco-friendly alternative to plastic-based void-fill and protective packaging. Ranpak’s solutions include crumpled paper fillers, paper wrap systems and tailored automation equipment that serve diverse end markets such as e-commerce, industrial parts, electronics and retail.

Founded in 1972 and headquartered in Concord Township, Ohio, Ranpak has built a global presence by combining innovation in paper converting technology with a commitment to sustainability.