Ranpak (NYSE:PACK) Shares Gap Down to $7.33

Shares of Ranpak Holdings Corp. (NYSE:PACK - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $7.33, but opened at $6.91. Ranpak shares last traded at $6.43, with a volume of 132,746 shares.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum upped their target price on shares of Ranpak from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Monday, April 1st.

Ranpak Stock Performance

The company has a debt-to-equity ratio of 0.70, a current ratio of 2.60 and a quick ratio of 2.24. The firm has a market capitalization of $541.99 million, a P/E ratio of -19.73 and a beta of 2.31. The stock's 50 day moving average is $6.71 and its two-hundred day moving average is $5.19.

Ranpak (NYSE:PACK - Get Free Report) last posted its quarterly earnings results on Monday, March 11th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.06). The business had revenue of $90.40 million for the quarter, compared to the consensus estimate of $87.04 million. Ranpak had a negative return on equity of 4.63% and a negative net margin of 8.06%. The company's quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the firm earned ($0.51) earnings per share.

Institutional Investors Weigh In On Ranpak

Several large investors have recently bought and sold shares of PACK. SG Americas Securities LLC bought a new stake in Ranpak in the third quarter valued at approximately $107,000. Trellus Management Company LLC increased its stake in Ranpak by 10.6% in the third quarter. Trellus Management Company LLC now owns 208,817 shares of the company's stock valued at $1,136,000 after purchasing an additional 20,000 shares in the last quarter. Roubaix Capital LLC increased its stake in Ranpak by 1.0% in the third quarter. Roubaix Capital LLC now owns 423,662 shares of the company's stock valued at $2,305,000 after purchasing an additional 4,043 shares in the last quarter. Simplex Trading LLC increased its stake in Ranpak by 827.6% in the third quarter. Simplex Trading LLC now owns 11,827 shares of the company's stock valued at $64,000 after purchasing an additional 10,552 shares in the last quarter. Finally, Group One Trading L.P. bought a new stake in Ranpak in the third quarter valued at approximately $54,000. Institutional investors own 85.94% of the company's stock.

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.