IT Tech Packaging (NYSE:ITP) Shares Down 1.2% – Here’s Why

IT Tech Packaging, Inc. (NYSE:ITP) shares dropped 1.2% during trading on Wednesday . The stock traded as low as $0.2150 and last traded at $0.2203. Approximately 306,853 shares were traded during mid-day trading, an increase of 84% from the average daily volume of 166,697 shares. The stock had previously closed at $0.2230.

IT Tech Packaging Price Performance

The company has a market capitalization of $3.74 million, a P/E ratio of -0.22 and a beta of -0.55. The stock’s fifty day simple moving average is $0.23 and its 200-day simple moving average is $0.23. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.59 and a quick ratio of 1.31.

Institutional Trading of IT Tech Packaging

An institutional investor recently bought a new position in IT Tech Packaging stock. Financial Plan Inc. purchased a new position in IT Tech Packaging, Inc. (NYSE:ITP) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 135,000 shares of the company’s stock, valued at approximately $30,000. Financial Plan Inc. owned 0.80% of IT Tech Packaging as of its most recent SEC filing. 2.99% of the stock is owned by institutional investors and hedge funds.

IT Tech Packaging Company Profile

IT Tech Packaging, Inc (NYSE: ITP) is a global manufacturer of all-aluminum rigid packaging solutions, primarily serving the beauty, personal care, food and industrial markets. The company’s offering includes decorative and functional canisters, aerosol containers, tubes and closures that leverage corrosion-resistant, lightweight aluminum. By combining sheet-metal forming processes with proprietary printing and finishing technologies, IT Tech Packaging delivers premium packaging designed to meet both aesthetic and performance requirements.

Founded in the early 1990s and headquartered in the United States, IT Tech Packaging operates a network of production facilities across North America, Europe and Asia.