Ranpak Holdings Corp. (NYSE:PACK) Short Interest Down 22.9% in November

Ranpak Holdings Corp. (NYSE:PACK) was the target 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 daily trading volume, of 273,100 shares, the days-to-cover ratio is presently 3.5 days. Currently, 1.3% of the company’s stock are sold short.

Ranpak Stock Down 0.1 %

Shares of PACK stock opened at $7.85 on Friday. 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 current ratio of 2.36 and a quick ratio of 2.01. The stock’s 50 day simple moving average is $6.46 and its 200 day simple moving average is $6.60.

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

Analyst Upgrades and Downgrades

PACK has been the topic of several research analyst reports. Baird R W cut Ranpak from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Robert W. Baird lowered their price objective on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st.

Institutional Investors Weigh In On Ranpak

Hedge funds and other institutional investors have recently made changes to their positions in the business. Meros Investment Management LP boosted its stake in Ranpak by 32.6% during the 2nd quarter. Meros Investment Management LP now owns 943,729 shares of the company’s stock valued at $6,068,000 after purchasing an additional 231,779 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Ranpak in the second quarter valued at approximately $713,000. Los Angeles Capital Management LLC boosted its position in shares of Ranpak by 177.4% in the second quarter. Los Angeles Capital Management LLC now owns 127,512 shares of the company’s stock valued at $820,000 after acquiring an additional 81,552 shares during the period. Vanguard Group Inc. increased its position in Ranpak by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,333,187 shares of the company’s stock worth $18,362,000 after acquiring an additional 25,073 shares during the period. Finally, American Century Companies Inc. raised its stake in Ranpak by 56.2% during the 2nd quarter. American Century Companies Inc. now owns 52,033 shares of the company’s stock valued at $335,000 after purchasing an additional 18,731 shares during the last quarter. 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.