Ranpak Holdings Corp (NYSE:PACK) Short Interest Down 36.4% in May

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

Institutional Investors Weigh In On Ranpak

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its position 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 worth $351,000 after acquiring an additional 44,871 shares during the last quarter. Gabelli Funds LLC lifted its position in Ranpak by 6.3% during 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 in the last quarter. Gamco Investors INC. ET AL lifted its position in Ranpak by 28.6% during 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 in the last quarter. Sei Investments Co. lifted its position in Ranpak by 538.5% during 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 in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Ranpak by 3.5% during 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 in the last quarter. 85.94% of the stock is owned by institutional investors and hedge funds.

Ranpak Price Performance

Ranpak stock opened at $7.12 on Wednesday. Ranpak has a 12-month low of $3.20 and a 12-month high of $7.16. The stock has a market capitalization of $608.62 million, a P/E ratio of -16.17 and a beta of 3.14. The firm’s 50-day moving average is $4.82 and its two-hundred day moving average is $5.05. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.73 and a quick ratio of 1.32.

Ranpak (NYSE:PACK) last released its 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). Ranpak had a negative return on equity of 7.04% and a negative net margin of 9.28%.The company had revenue of $101.20 million during the quarter, compared to analyst estimates of $91.59 million. Equities analysts predict that Ranpak will post -0.25 earnings per share for the current year.

Analyst Ratings Changes

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