IT Tech Packaging Inc. [ITP] fell -8.05% so far this year. What now?

IT Tech Packaging Inc. [AMEX: ITP] plunged by -$0.04 during the normal trading session on Thursday and reaching a high of $0.55 during the day while it closed the day at $0.51. The company report on April 7, 2021 that IT Tech Packaging, Inc. Announces the Receipt of Qualification for Biomass CHP Project to Supply Central Heat in Industrial Parks.

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IT Tech Packaging, Inc. (NYSE American: ITP) (“ITP” or “the Company”), a leading manufacturer and distributor of diversified paper products in North China, announced that it has obtained qualification to supply central heating in industrial parks after month-long review process for its combined heat and power generation project utilizing bio mass technology (“Biomass CHP Project”).

ITP completed procurement bidding process in February 2021 for its Biomass CHP Project. Tai Shan Group Co., Ltd., a top boiler manufacturer in China, won the bid. Construction works on the site have been commenced. With successful operation, the project is expected to generate annual electricity output of 56.45 million kw/h, supply annual electricity of 46.29 million kw/h and generate annual heating steam of 521,100 tons, which are sufficient to meet the Company’s internal power and gas demand for paper production, as well as to supply industrial gas to enterprises operating in the industrial parks and to supply heating and electricity to nearby residential compounds that we expect to bring in significant revenues to ITP. The Company expects to generate revenue of RMB114.64 million (approximately $17.5 million) per year based on the heating steam’s current market price of RMB220 per ton. If the project is connected to nearby grids, the Company expects to generate RMB42.33 million (approximately $6.5 million ) in revenue per year based on RMB0.75 kw/h market price of biomass electricity, according to biomass electricity pricing policies set by China National Development and Reform Commission. In total, we estimate to generate an annual revenue of RMB157 million (approximately $24 million) through the Biomass CHP Project.

IT Tech Packaging Inc. stock has also loss -19.18% of its value over the past 7 days. However, ITP stock has declined by -28.93% in the 3 months of the year. Over the past six months meanwhile, it has gained 1.19% and lost -8.05% year-on date.

The market cap for ITP stock reached $59.15 million, with 28.54 million shares outstanding and 23.12 million shares in the current float. Compared to the average trading volume of 14.13M shares, ITP reached a trading volume of 5099767 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about IT Tech Packaging Inc. [ITP]:

The Average True Range (ATR) for IT Tech Packaging Inc. is set at 0.05, with the Price to Sales ratio for ITP stock in the period of the last 12 months amounting to 0.59. The Price to Book ratio for the last quarter was 0.08, with the Price to Cash per share for the same quarter was set at 0.04.

ITP stock trade performance evaluation

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 -19.18. With this latest performance, ITP shares dropped by -27.66% in over the last four-week period, additionally plugging by 1.19% over the last 6 months – not to mention a drop of -32.67% 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 29.83, with the RSI for the last a single of trading hit 19.61, and the three-weeks RSI is set at 36.35 for IT Tech Packaging Inc. [ITP]. The present Moving Average for the last 50 days of trading for this stock 0.7937, while it was recorded at 0.5613 for the last single week of trading, and 0.6362 for the last 200 days.

IT Tech Packaging Inc. [ITP]: An insightful look at the core 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 -5.40 and a Gross Margin at +5.65. IT Tech Packaging Inc.’s Net Margin is presently recorded at -5.50.

Return on Total Capital for ITP is now -2.93, given the latest momentum, and Return on Invested Capital for the company is -3.14. Return on Equity for this stock declined to -3.26, with Return on Assets sitting at -2.85. 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 9.46. Additionally, ITP Total Debt to Total Capital is recorded at 8.64, with Total Debt to Total Assets ending up at 8.29. Long-Term Debt to Equity for the company is recorded at 2.83, with the Long-Term Debt to Total Capital now at 2.58.

Reflecting on the efficiency of the workforce at the company, IT Tech Packaging Inc. [ITP] managed to generate an average of -$16,679 per employee. Receivables Turnover for the company is 10.63 with a Total Asset Turnover recorded at a value of 0.52.IT Tech Packaging Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.80.

Earnings per share (EPS) analysis for IT Tech Packaging Inc. [ITP] stock

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 Ownership positions

There are presently around $0 million, or 0.80% of ITP stock, in the hands of institutional investors. The top three institutional holders of ITP stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 548,250, which is approximately 36.022% of the company’s market cap and around 4.77% of the total institutional ownership; HRT FINANCIAL LP, holding 156,419 shares of the stock with an approximate value of $80000.0 in ITP stocks shares; and BRIDGEWAY CAPITAL MANAGEMENT, LLC, currently with $75000.0 in ITP stock with ownership of nearly 0% of the company’s market capitalization.

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Positions in IT Tech Packaging Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 6 institutional holders increased their position in IT Tech Packaging Inc. [AMEX:ITP] by around 311,785 shares. Additionally, 0 investors decreased positions by around 0 shares, while 1 investors held positions by with 631,511 shares. The mentioned changes placed institutional holdings at 943,296 shares, according to the latest SEC report filing. ITP stock had 3 new institutional investments in for a total of 47,757 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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