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 recipient of a large growth in short interest in 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 trading volume of 670,500 shares, the short-interest ratio is presently 4.0 days. Currently, 3.5% of the company's shares are sold short. Currently, 3.5% of the company's shares are sold short. Based on an average trading volume of 670,500 shares, the short-interest ratio is presently 4.0 days.

Analysts Set New Price Targets

PACK has been the subject of a number of analyst reports. Cantor Fitzgerald lifted their target price on shares of Ranpak from $6.00 to $6.50 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Craig Hallum lifted their price target on shares of Ranpak from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $7.17.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. G2 Investment Partners Management LLC grew its stake in Ranpak by 21.5% in the 2nd quarter. G2 Investment Partners Management LLC now owns 4,660,451 shares of the company's stock valued at $16,638,000 after buying an additional 823,745 shares during the last quarter. Engineers Gate Manager LP acquired a new position in Ranpak in the 2nd quarter valued at about $49,000. Boothbay Fund Management LLC grew its stake in Ranpak by 21.1% in the 2nd quarter. Boothbay Fund Management LLC now owns 909,251 shares of the company's stock valued at $3,246,000 after buying an additional 158,496 shares during the last quarter. PDT Partners LLC acquired a new position in Ranpak in the 2nd quarter valued at about $184,000. Finally, Jane Street Group LLC grew its stake in Ranpak by 543.7% in the 2nd quarter. Jane Street Group LLC now owns 111,366 shares of the company's stock valued at $398,000 after buying an additional 94,066 shares during the last quarter. Institutional investors and hedge funds own 85.94% of the company's stock.

Ranpak Stock Performance

Shares of Ranpak stock traded down $0.14 during trading on Friday, hitting $5.05. 1,507,725 shares of the stock were exchanged, compared to its average volume of 1,308,759. The stock has a market capitalization of $426.02 million, a price-to-earnings ratio of -12.02 and a beta of 2.76. The company has a fifty day moving average price of $4.38 and a 200-day moving average price of $4.20. Ranpak has a 1-year low of $2.91 and a 1-year high of $8.70. The company has a current ratio of 1.74, a quick ratio of 1.30 and a debt-to-equity ratio of 0.74.

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

Ranpak Company Profile

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.