Ranpak (NYSE:PACK) Shares Gap Down on Disappointing Earnings

Ranpak Holdings Corp. (NYSE:PACK)’s stock price gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $7.33, but opened at $6.91. Ranpak shares last traded at $6.43, with a volume of 132,746 shares changing hands.

The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The firm had revenue of $85.30 million for the quarter, compared to analyst estimates of $85.50 million. Ranpak had a negative net margin of 6.70% and a negative return on equity of 3.93%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year.

Analyst Ratings Changes

Several analysts recently weighed in on PACK shares. Robert W. Baird raised their price objective on Ranpak from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Friday. Craig Hallum raised their price target on shares of Ranpak from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, April 1st.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Group One Trading L.P. acquired a new position in Ranpak in the 3rd quarter worth about $54,000. Tower Research Capital LLC TRC increased its stake in shares of Ranpak by 397.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,500 shares of the company’s stock valued at $61,000 after buying an additional 8,390 shares during the period. Simplex Trading LLC raised its holdings in Ranpak by 827.6% in the 3rd quarter. Simplex Trading LLC now owns 11,827 shares of the company’s stock valued at $64,000 after buying an additional 10,552 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Ranpak during the 3rd quarter worth approximately $107,000. Finally, BNP Paribas Financial Markets grew its holdings in Ranpak by 227.0% during the 1st quarter. BNP Paribas Financial Markets now owns 37,996 shares of the company’s stock worth $299,000 after acquiring an additional 26,377 shares during the last quarter. 85.94% of the stock is currently owned by institutional investors and hedge funds.

Ranpak Stock Up 2.6 %

The company’s 50-day simple moving average is $6.75 and its 200-day simple moving average is $5.20. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.60 and a quick ratio of 2.24.

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.