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

Ranpak Holdings Corp. (NYSE:PACK) saw some unusual options trading on Wednesday. Investors acquired 3,800 call options on the company. This represents an increase of 1,041% compared to the typical volume of 333 call options.

Ranpak Stock Performance

Shares of NYSE:PACK opened at $5.22 on Thursday. The firm’s 50 day simple moving average is $6.59 and its 200 day simple moving average is $6.69. Ranpak has a fifty-two week low of $5.02 and a fifty-two week high of $9.04. The company has a market capitalization of $436.44 million, a price-to-earnings ratio of -21.75 and a beta of 2.59. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.36 and a quick ratio of 2.01.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald assumed coverage on shares of Ranpak in a research report on Thursday, December 19th. They issued an “overweight” rating and a $11.50 price objective for the company.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in Ranpak by 185.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 363,815 shares of the company’s stock worth $2,376,000 after acquiring an additional 236,398 shares during the last quarter. Barclays PLC lifted its holdings in Ranpak by 367.0% during the 3rd quarter. Barclays PLC now owns 73,116 shares of the company’s stock valued at $478,000 after purchasing an additional 57,461 shares during the last quarter. State Street Corp increased its holdings in shares of Ranpak by 15.2% in the third quarter. State Street Corp now owns 1,133,277 shares of the company’s stock valued at $7,400,000 after purchasing an additional 149,446 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Ranpak during the 3rd quarter worth about $222,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Ranpak by 22.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,154 shares of the company’s stock worth $491,000 after acquiring an additional 13,767 shares during the period. 85.94% of the stock is currently owned by institutional investors.

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.