Traders Purchase High Volume of Call Options on Ranpak (NYSE:PACK)

Ranpak Holdings Corp. (NYSE:PACK) saw unusually large options trading on Wednesday. Stock investors bought 3,800 call options on the company. This represents an increase of approximately 1,041% compared to the average volume of 333 call options.

Ranpak Price Performance

Shares of NYSE PACK opened at $5.22 on Thursday. The company has a quick ratio of 2.01, a current ratio of 2.36 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $436.44 million, a PE ratio of -21.75 and a beta of 2.59. The firm has a fifty day simple moving average of $6.59 and a 200 day simple moving average of $6.69. Ranpak has a twelve month low of $5.02 and a twelve month high of $9.04.

Analyst Ratings Changes

Separately, Cantor Fitzgerald started coverage on shares of Ranpak in a research note on Thursday, December 19th. They set an “overweight” rating and a $11.50 price target for the company.

Institutional Investors Weigh In On Ranpak

Several large investors have recently added to or reduced their stakes in PACK. Quarry LP bought a new stake in shares of Ranpak in the 3rd quarter valued at $39,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Ranpak in the 4th quarter valued at about $42,000. Quantbot Technologies LP bought a new stake in Ranpak in the 3rd quarter valued at about $42,000. Two Sigma Securities LLC bought a new position in Ranpak in the fourth quarter worth approximately $70,000. Finally, Glenmede Trust Co. NA acquired a new stake in Ranpak in the third quarter valued at approximately $67,000. Institutional investors and hedge funds own 85.94% of the company’s stock.

Ranpak Company Profile

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.