Ranpak Holdings Corp. [NYSE: PACK] traded at a low on 05/26/21, posting a -9.28 loss after which it closed the day’ session at $22.39. The company report on May 27, 2021 that Ranpak Announces Pricing of Public Offering of 5,000,000 Shares of Class A Common Stock.
Ranpak Holdings Corp. (“Ranpak”) (NYSE: PACK), a leading provider of environmentally sustainable, systems-based, product protection solutions for e-commerce and industrial supply chains, announced the pricing of a registered underwritten public offering of 5,000,000 shares of its Class A common stock at a public offering price of $21.00 per share, for gross proceeds of approximately $94.5 million to the Company and approximately $10.5 million to certain selling security holders of Ranpak (the “Selling Security Holders”). The offering consists of 4,500,000 shares being offered by Ranpak and 500,000 shares being offered by the Selling Security Holders. In addition, Ranpak granted the underwriter a 30-day option to purchase 750,000 additional shares, to cover over-allotments, if any. The offering is expected to close on June 1, 2021, subject to customary closing conditions.
Ranpak intends to use the net proceeds of the proposed offering for debt repayment and general corporate purposes. Ranpak will not receive any proceeds from the sale of the Class A common stock offered by the Selling Security Holders.
The results of the trading session contributed to over 1736418 shares changing hands. Over the past one week, the price volatility of Ranpak Holdings Corp. stands at 6.11% while the volatility over the past one month is 5.99%.
The market cap for PACK stock reached $1.65 billion, with 73.56 million shares outstanding and 72.83 million shares in the current float. Compared to the average trading volume of 321.04K shares, PACK reached a trading volume of 1736418 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Ranpak Holdings Corp. [PACK]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PACK shares is $26.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PACK stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Berenberg have made an estimate for Ranpak Holdings Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 26, 2021.
The Average True Range (ATR) for Ranpak Holdings Corp. is set at 1.25, with the Price to Sales ratio for PACK stock in the period of the last 12 months amounting to 5.12. The Price to Book ratio for the last quarter was 3.14, with the Price to Cash per share for the same quarter was set at 0.55. Price to Free Cash Flow for PACK in the course of the last twelve months was 28.97 with Quick ratio for the last quarter at 1.60.
How has PACK stock performed recently?
Ranpak Holdings Corp. [PACK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.59. With this latest performance, PACK shares gained by 12.57% in over the last four-week period, additionally plugging by 90.55% over the last 6 months – not to mention a rise of 199.33% 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 PACK stock in for the last two-week period is set at 57.50, with the RSI for the last a single of trading hit 55.61, and the three-weeks RSI is set at 57.55 for Ranpak Holdings Corp. [PACK]. The present Moving Average for the last 50 days of trading for this stock 20.14, while it was recorded at 23.70 for the last single week of trading, and 14.85 for the last 200 days.
Ranpak Holdings Corp. [PACK]: Deeper insight into the fundamentals
Ranpak Holdings Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 2.00.
Earnings analysis for Ranpak Holdings Corp. [PACK]
With the latest financial reports released by the company, Ranpak Holdings Corp. posted -0.12/share EPS, while the average EPS was predicted by analysts to be reported at -0.05/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -140.00%. 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 PACK.
Insider trade positions for Ranpak Holdings Corp. [PACK]
There are presently around $1,313 million, or 81.70% of PACK stock, in the hands of institutional investors. The top three institutional holders of PACK stocks are: JS CAPITAL MANAGEMENT LLC with ownership of 29,976,912, which is approximately 0% of the company’s market cap and around 3.60% of the total institutional ownership; ALLIANCEBERNSTEIN L.P., holding 3,675,882 shares of the stock with an approximate value of $82.3 million in PACK stocks shares; and ARROWMARK COLORADO HOLDINGS LLC, currently with $58.4 million in PACK stock with ownership of nearly -47.095% of the company’s market capitalization.
55 institutional holders increased their position in Ranpak Holdings Corp. [NYSE:PACK] by around 6,985,698 shares. Additionally, 46 investors decreased positions by around 10,536,560 shares, while 10 investors held positions by with 41,101,699 shares. The mentioned changes placed institutional holdings at 58,623,957 shares, according to the latest SEC report filing. PACK stock had 25 new institutional investments in for a total of 3,947,802 shares, while 6 institutional investors sold positions of 741,435 shares during the same period.