Ranpak Target of Unusually Large Options Trading (NYSE:PACK)

Ranpak Holdings Corp. (NYSE:PACK) was the recipient of some unusual options trading on Wednesday. Stock traders bought 3,800 call options on the stock. This represents an increase of 1,041% compared to the average daily volume of 333 call options.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald began coverage on Ranpak in a research note on Thursday, December 19th. They issued an “overweight” rating and a $11.50 price target on the stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PACK. Quarry LP acquired a new stake in Ranpak during the 3rd quarter worth approximately $39,000. Quantbot Technologies LP purchased a new stake in Ranpak during the third quarter worth approximately $42,000. KLP Kapitalforvaltning AS purchased a new position in shares of Ranpak in the 4th quarter valued at $42,000. Glenmede Trust Co. NA acquired a new position in shares of Ranpak during the 3rd quarter valued at $67,000. Finally, Paloma Partners Management Co purchased a new stake in Ranpak during the 3rd quarter worth $68,000. Institutional investors and hedge funds own 85.94% of the company’s stock.

Ranpak Trading Down 1.8 %

Shares of PACK traded down $0.10 during mid-day trading on Wednesday, reaching $5.11. The company had a trading volume of 162,869 shares, compared to its average volume of 667,280. Ranpak has a fifty-two week low of $5.02 and a fifty-two week high of $9.04. The firm has a fifty day simple moving average of $6.61 and a 200-day simple moving average of $6.70. The stock has a market cap of $426.83 million, a price-to-earnings ratio of -21.27 and a beta of 2.59. The company has a current ratio of 2.36, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71.

About Ranpak

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.