Ranpak Holdings Corp (NYSE:PACK) Short Interest Up 30.3% in August

Key Points

• Ranpak Holdings Corp experienced a 30.3% increase in short interest during August, bringing total short interest to 2,710,000 shares as of August 31st.
• Analysts have shown a positive outlook, with Craig Hallum raising the target price to $10.00 and maintaining a "buy" rating, while the stock has an average rating of "Moderate Buy."
• Despite recent challenges, including a missed earnings estimate of ($0.09) per share and negative revenue compared to expectations, institutional investors have significantly increased their holdings in the company.

Ranpak Holdings Corp (NYSE:PACK - Get Free Report) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 2,710,000 shares, a growth of 30.3% from the August 15th total of 2,080,000 shares. Based on an average daily trading volume, of 670,500 shares, the days-to-cover ratio is currently 4.0 days. Currently, 3.5% of the shares of the company are sold short. Currently, 3.5% of the shares of the company are sold short. Based on an average daily trading volume, of 670,500 shares, the days-to-cover ratio is currently 4.0 days.

Analyst Ratings Changes

Several research firms recently commented on PACK. Craig Hallum upped their target price on shares of Ranpak from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. Cantor Fitzgerald upped their target price on shares of Ranpak from $6.00 to $6.50 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $7.17.

Ranpak Price Performance

Shares of PACK stock traded up $0.01 during mid-day trading on Wednesday, reaching $4.69. The company's stock had a trading volume of 419,422 shares, compared to its average volume of 1,251,487. Ranpak has a 1-year low of $2.91 and a 1-year high of $8.70. The company has a market cap of $395.23 million, a P/E ratio of -11.15 and a beta of 2.76. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.30 and a current ratio of 1.74. The firm's 50-day moving average is $4.33 and its two-hundred day moving average is $4.24.

Ranpak (NYSE:PACK - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.13). Ranpak had a negative net margin of 9.06% and a negative return on equity of 6.29%. The business had revenue of $77.80 million during the quarter, compared to analyst estimates of $94.45 million. Ranpak has set its FY 2025 guidance at EPS. On average, research analysts predict that Ranpak will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Ranpak

Several large investors have recently made changes to their positions in the company. Gamco Investors INC. ET AL grew its holdings in shares of Ranpak by 27.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company's stock worth $50,000 after purchasing an additional 3,050 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Ranpak by 3.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 92,845 shares of the company's stock worth $503,000 after purchasing an additional 3,100 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Ranpak by 20.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,647 shares of the company's stock worth $70,000 after acquiring an additional 3,364 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Ranpak by 25.4% during the 4th quarter. BNP Paribas Financial Markets now owns 17,881 shares of the company's stock worth $123,000 after acquiring an additional 3,623 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Ranpak by 3.1% during the 1st quarter. Bank of New York Mellon Corp now owns 124,315 shares of the company's stock worth $674,000 after acquiring an additional 3,731 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.