Short Interest in Ranpak Holdings Corp. (NYSE:PACK) Declines By 22.9%

Ranpak Holdings Corp. (NYSE:PACK) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 963,400 shares, a decline of 22.9% from the October 31st total of 1,250,000 shares. Based on an average trading volume of 273,100 shares, the days-to-cover ratio is currently 3.5 days. Currently, 1.3% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PACK shares. Robert W. Baird lowered their price objective on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Baird R W downgraded shares of Ranpak from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 14th.

Ranpak Trading Down 0.8 %

Shares of Ranpak stock traded down $0.06 on Friday, hitting $7.79. The stock had a trading volume of 143,606 shares, compared to its average volume of 452,887. The stock has a 50 day moving average of $6.52 and a 200 day moving average of $6.62. The firm has a market capitalization of $648.60 million, a P/E ratio of -32.46 and a beta of 2.37. Ranpak has a twelve month low of $3.85 and a twelve month high of $9.04. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.36.

Ranpak (NYSE:PACK) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Ranpak had a negative net margin of 5.64% and a negative return on equity of 3.54%. The business had revenue of $92.20 million during the quarter, compared to analyst estimates of $90.76 million. During the same quarter last year, the company posted ($0.03) earnings per share. The company’s revenue was up 11.4% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PACK. Innealta Capital LLC bought a new position in shares of Ranpak during the second quarter worth about $31,000. Quarry LP bought a new position in Ranpak during the 3rd quarter worth approximately $39,000. Quantbot Technologies LP bought a new position in Ranpak during the 3rd quarter worth approximately $42,000. Glenmede Trust Co. NA acquired a new position in shares of Ranpak in the 3rd quarter worth approximately $67,000. Finally, Paloma Partners Management Co bought a new stake in shares of Ranpak in the 3rd quarter valued at $68,000. 85.94% of the stock is owned by institutional investors and hedge funds.

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.