Ranpak (NYSE:PACK) Shares Gap Down – Time to Sell?

Shares of Ranpak Holdings Corp (NYSE:PACK) gapped down before the market opened on Monday . The stock had previously closed at $6.81, but opened at $6.60. Ranpak shares last traded at $6.6350, with a volume of 26,344 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have weighed in on PACK shares. Wall Street Zen raised shares of Ranpak from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ranpak in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.83.

Ranpak Stock Down 2.2%

The firm has a market cap of $569.70 million, a price-to-earnings ratio of -15.16 and a beta of 3.11. The business has a fifty day simple moving average of $6.78 and a 200 day simple moving average of $5.49. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.73 and a quick ratio of 1.32.

Ranpak (NYSE:PACK) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). Ranpak had a negative return on equity of 7.04% and a negative net margin of 9.28%.The firm had revenue of $101.20 million during the quarter, compared to analyst estimates of $91.59 million. As a group, equities analysts forecast that Ranpak Holdings Corp will post -0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Ranpak

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC raised its position in shares of Ranpak by 4.2% in the first quarter. Empowered Funds LLC now owns 379,061 shares of the company’s stock valued at $2,055,000 after buying an additional 15,184 shares during the last quarter. Geode Capital Management LLC grew its stake in Ranpak by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,084,531 shares of the company’s stock valued at $3,872,000 after acquiring an additional 30,529 shares in the last quarter. XTX Topco Ltd acquired a new stake in Ranpak in the 2nd quarter valued at about $108,000. Gamco Investors INC. ET AL raised its holdings in Ranpak by 27.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company’s stock valued at $50,000 after acquiring an additional 3,050 shares during the last quarter. Finally, Sei Investments Co. purchased a new position in Ranpak in the 2nd quarter worth approximately $149,000. Institutional investors and hedge funds own 85.94% of the company’s stock.

Ranpak Company Profile

Ranpak Holdings Corp. (NYSE: PACK) is a leading provider of sustainable, paper-based packaging solutions designed to protect products during transit. The company’s core business centers on the design, manufacture and distribution of automated systems and consumable paper packaging materials that offer an eco-friendly alternative to plastic-based void-fill and protective packaging. Ranpak’s solutions include crumpled paper fillers, paper wrap systems and tailored automation equipment that serve diverse end markets such as e-commerce, industrial parts, electronics and retail.

Founded in 1972 and headquartered in Concord Township, Ohio, Ranpak has built a global presence by combining innovation in paper converting technology with a commitment to sustainability.