Ranpak (NYSE:PACK) Shares Gap Up – What’s Next?

Ranpak Holdings Corp. (NYSE:PACK)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $5.74, but opened at $7.01. Ranpak shares last traded at $7.53, with a volume of 5,803,312 shares traded.

Analyst Ratings Changes

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

Ranpak Stock Performance

The business has a fifty day moving average of $7.12 and a 200-day moving average of $6.85. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.36.

Ranpak (NYSE:PACK) last posted its earnings results on Thursday, October 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $92.20 million during the quarter, compared to analysts’ expectations of $90.76 million. Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.03) earnings per share. As a group, research analysts expect that Ranpak Holdings Corp. will post -0.2 EPS for the current year.

Institutional Trading of Ranpak

A number of hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. grew its holdings in shares of Ranpak by 56.2% during the 2nd quarter. American Century Companies Inc. now owns 52,033 shares of the company’s stock valued at $335,000 after purchasing an additional 18,731 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Ranpak by 34.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,129,802 shares of the company’s stock valued at $13,694,000 after buying an additional 542,464 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Ranpak in the second quarter worth about $713,000. Squarepoint Ops LLC lifted its stake in shares of Ranpak by 146.8% in the 2nd quarter. Squarepoint Ops LLC now owns 226,834 shares of the company’s stock valued at $1,459,000 after acquiring an additional 134,910 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in Ranpak during the 2nd quarter valued at about $1,178,000. 85.94% of the stock is owned by institutional investors.

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.