IT Tech Packaging Stock Scheduled to Reverse Split on Monday, November 23rd (NYSE:ITP)

IT Tech Packaging, Inc. (NYSE:ITP)’s stock is set to reverse split before the market opens on Monday, November 23rd. The 1-40 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, November 22nd.

IT Tech Packaging Trading Up 2.9%

Shares of NYSE:ITP traded up $0.00 during mid-day trading on Thursday, reaching $0.06. 1,752,904 shares of the company were exchanged, compared to its average volume of 732,235. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.59 and a quick ratio of 1.31. The firm has a market cap of $1.07 million, a price-to-earnings ratio of -0.06 and a beta of -0.27. IT Tech Packaging has a 1 year low of $0.04 and a 1 year high of $0.33. The firm’s 50-day simple moving average is $0.14 and its 200 day simple moving average is $0.18.

IT Tech Packaging Company Profile

IT Tech Packaging, Inc. (NYSE: ITP) is a China-based paper manufacturing company. Through its subsidiaries, the company produces and sells paper products used in packaging, printing and consumer applications. Its product portfolio has included corrugating medium paper, offset printing paper, tissue paper and digital photo paper. The company has also operated power-generation facilities associated with its manufacturing activities, including cogeneration operations intended to support production.