Ranpak Holdings Corp (NYSE:PACK) Short Interest Down 36.4% in May

Ranpak Holdings Corp (NYSE:PACK) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totaling 2,677,811 shares, a decline of 36.4% from the April 30th total of 4,207,686 shares. Approximately 3.4% of the company’s shares are sold short. Based on an average daily trading volume, of 955,286 shares, the short-interest ratio is presently 2.8 days.

Ranpak Trading Up 3.3%

PACK opened at $7.12 on Wednesday. The firm has a market capitalization of $608.62 million, a P/E ratio of -16.17 and a beta of 3.14. The firm’s 50 day moving average is $4.82 and its 200-day moving average is $5.05. Ranpak has a 52-week low of $3.20 and a 52-week high of $7.16. The company has a quick ratio of 1.32, a current ratio of 1.73 and a debt-to-equity ratio of 0.76.

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

Institutional Trading of Ranpak

Hedge funds have recently made changes to their positions in the company. Rhumbline Advisers increased its stake in shares of Ranpak by 2.9% in the third quarter. Rhumbline Advisers now owns 70,261 shares of the company’s stock worth $395,000 after buying an additional 2,008 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Ranpak by 7.4% in the third quarter. Bank of America Corp DE now owns 35,583 shares of the company’s stock worth $200,000 after buying an additional 2,452 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Ranpak by 8.0% in the fourth quarter. Deutsche Bank AG now owns 35,834 shares of the company’s stock worth $194,000 after buying an additional 2,647 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Ranpak by 27.9% in the second quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company’s stock worth $50,000 after buying an additional 3,050 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Ranpak by 20.7% in the second quarter. The Manufacturers Life Insurance Company now owns 19,647 shares of the company’s stock worth $70,000 after buying an additional 3,364 shares during the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. UBS Group reaffirmed an “overweight” rating on shares of Ranpak in a research report on Friday, March 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ranpak in a research report on Friday, March 6th. Craig Hallum reduced their price target on shares of Ranpak from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Wall Street Zen raised shares of Ranpak from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ranpak in a research report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $6.83.

Ranpak Company Profile

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.