Ranpak Holdings Corp (NYSE:PACK) Short Interest Update

Ranpak Holdings Corp (NYSE:PACK) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 2,677,811 shares, a decline of 36.4% from the April 30th total of 4,207,686 shares. Approximately 3.4% of the shares of the company are sold short. Based on an average daily trading volume, of 955,286 shares, the days-to-cover ratio is presently 2.8 days.

Ranpak Trading Down 1.9%

Shares of PACK stock opened at $6.99 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.32 and a debt-to-equity ratio of 0.76. The stock has a market cap of $597.50 million, a P/E ratio of -15.88 and a beta of 3.14. The stock has a 50 day simple moving average of $4.97 and a 200 day simple moving average of $5.07. Ranpak has a 1 year low of $3.22 and a 1 year high of $7.16.

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 the consensus estimate of ($0.11) by ($0.01). The company had revenue of $101.20 million during the quarter, compared to the consensus estimate of $91.59 million. Ranpak had a negative net margin of 9.28% and a negative return on equity of 7.04%. On average, research analysts predict that Ranpak will post -0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ranpak

Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its stake in shares of Ranpak by 84.1% in the first quarter. Bank of America Corp DE now owns 98,213 shares of the company’s stock valued at $351,000 after buying an additional 44,871 shares during the period. Gabelli Funds LLC boosted its stake in shares of Ranpak by 6.3% in the first quarter. Gabelli Funds LLC now owns 101,485 shares of the company’s stock valued at $362,000 after buying an additional 5,985 shares during the period. Gamco Investors INC. ET AL boosted its stake in shares of Ranpak by 28.6% in the first quarter. Gamco Investors INC. ET AL now owns 18,000 shares of the company’s stock valued at $64,000 after buying an additional 4,000 shares during the period. Sei Investments Co. boosted its stake in shares of Ranpak by 538.5% in the first quarter. Sei Investments Co. now owns 120,751 shares of the company’s stock valued at $431,000 after buying an additional 101,840 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Ranpak by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,045,306 shares of the company’s stock valued at $10,871,000 after buying an additional 102,942 shares during the period. 85.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PACK shares. Craig Hallum lowered their price target on Ranpak from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ranpak in a research report on Tuesday, April 21st. UBS Group reaffirmed an “overweight” rating on shares of Ranpak in a research report on Friday, March 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ranpak in a research report on Friday, March 6th. Finally, Wall Street Zen raised Ranpak from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.83.

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.