IT Tech Packaging Inc. [AMEX: ITP] price plunged by -21.58 percent to reach at -$0.16. The company report on January 15, 2021 that IT Tech Packaging, Inc. Announces Pricing of Approximately US$14.4 Million Upsized Public Offering.
IT Tech Packaging, Inc. (NYSE MKT: ITP) (“IT Tech Packaging” or “the Company”), a leading manufacturer and distributor of diversified paper products in North China, announced the pricing of a public offering of 26,181,818 shares of common stock (the “Common Stock”) and warrants (the “Warrants”) to purchase 26,181,818 shares of Common Stock at an offering price of $0.55 per share and warrant. Each Warrant is immediately exercisable for one share of Common Stock at an exercise price of US$0.55 per share and will expire five years from issuance. The aggregate gross proceeds of the offering are expected to be approximately US$14.4 million.
Maxim Group LLC is acting as sole placement agent in connection with the offering.
A sum of 42575577 shares traded at recent session while its average daily volume was at 2.84M shares. IT Tech Packaging Inc. shares reached a high of $0.58 and dropped to a low of $0.54 until finishing in the latest session at $0.57.
Guru’s Opinion on IT Tech Packaging Inc. [ITP]:
The Average True Range (ATR) for IT Tech Packaging Inc. is set at 0.08, with the Price to Sales ratio for ITP stock in the period of the last 12 months amounting to 0.16. The Price to Book ratio for the last quarter was 0.09, with the Price to Cash per share for the same quarter was set at 0.29. Price to Free Cash Flow for ITP in the course of the last twelve months was 23.45 with Quick ratio for the last quarter at 1.30.
ITP Stock Performance Analysis:
IT Tech Packaging Inc. [ITP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.78. With this latest performance, ITP shares dropped by -12.82% in over the last four-week period, additionally plugging by 0.21% over the last 6 months – not to mention a drop of -36.66% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ITP stock in for the last two-week period is set at 43.75, with the RSI for the last a single of trading hit 40.57, and the three-weeks RSI is set at 45.71 for IT Tech Packaging Inc. [ITP]. The present Moving Average for the last 50 days of trading for this stock 0.6333, while it was recorded at 0.6978 for the last single week of trading, and 0.5669 for the last 200 days.
Insight into IT Tech Packaging Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and IT Tech Packaging Inc. [ITP] shares currently have an operating margin of +3.31 and a Gross Margin at +11.63. IT Tech Packaging Inc.’s Net Margin is presently recorded at +1.89.
Return on Total Capital for ITP is now 2.09, given the latest momentum, and Return on Invested Capital for the company is 1.28. Return on Equity for this stock inclined to 1.34, with Return on Assets sitting at 1.13. When it comes to the capital structure of this company, IT Tech Packaging Inc. [ITP] has a Total Debt to Total Equity ratio set at 9.12. Additionally, ITP Total Debt to Total Capital is recorded at 8.36, with Total Debt to Total Assets ending up at 7.96. Long-Term Debt to Equity for the company is recorded at 4.44, with the Long-Term Debt to Total Capital now at 4.07.
Reflecting on the efficiency of the workforce at the company, IT Tech Packaging Inc. [ITP] managed to generate an average of $5,190 per employee. Receivables Turnover for the company is 12.20 with a Total Asset Turnover recorded at a value of 0.60.IT Tech Packaging Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.80.
ITP Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ITP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for IT Tech Packaging Inc. go to 20.00%.
IT Tech Packaging Inc. [ITP] Insider Position Details
There are presently around $0 million, or 2.20% of ITP stock, in the hands of institutional investors. The top three institutional holders of ITP stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 403,060, which is approximately 28.339% of the company’s market cap and around 19.00% of the total institutional ownership; BRIDGEWAY CAPITAL MANAGEMENT INC, holding 147,000 shares of the stock with an approximate value of $84000.0 in ITP stocks shares; and HRT FINANCIAL LP, currently with $43000.0 in ITP stock with ownership of nearly 44.321% of the company’s market capitalization.
Positions in IT Tech Packaging Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 2 institutional holders increased their position in IT Tech Packaging Inc. [AMEX:ITP] by around 112,055 shares. Additionally, 3 investors decreased positions by around 44,465 shares, while 1 investors held positions by with 474,991 shares. The mentioned changes placed institutional holdings at 631,511 shares, according to the latest SEC report filing. ITP stock had 0 new institutional investments in for a total of 0 shares, while 2 institutional investors sold positions of 15,279 shares during the same period.