IT Tech Packaging (NYSE:ITP) Trading Up 39.5% – Here’s What Happened

IT Tech Packaging, Inc. (NYSE:ITP) was up 39.5% on Tuesday . The stock traded as high as $0.2707 and last traded at $0.2612. Approximately 9,937,878 shares changed hands during mid-day trading, an increase of 858% from the average daily volume of 1,037,796 shares. The stock had previously closed at $0.1873.

IT Tech Packaging Price Performance

The firm has a market capitalization of $4.43 million, a price-to-earnings ratio of -0.27 and a beta of -0.25. The company’s 50 day moving average is $0.20 and its 200-day moving average is $0.21. The company has a current ratio of 1.59, a quick ratio of 1.31 and a debt-to-equity ratio of 0.03.

Institutional Investors Weigh In On IT Tech Packaging

A hedge fund recently bought a new stake in IT Tech Packaging stock. DRW Securities LLC bought a new stake in IT Tech Packaging, Inc. (NYSE:ITP) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 199,862 shares of the company’s stock, valued at approximately $44,000. DRW Securities LLC owned about 1.18% of IT Tech Packaging as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 2.99% of the company’s stock.

About IT Tech Packaging

IT Tech Packaging, Inc (NYSE: ITP) is a global manufacturer of all-aluminum rigid packaging solutions, primarily serving the beauty, personal care, food and industrial markets. The company’s offering includes decorative and functional canisters, aerosol containers, tubes and closures that leverage corrosion-resistant, lightweight aluminum. By combining sheet-metal forming processes with proprietary printing and finishing technologies, IT Tech Packaging delivers premium packaging designed to meet both aesthetic and performance requirements.

Founded in the early 1990s and headquartered in the United States, IT Tech Packaging operates a network of production facilities across North America, Europe and Asia.