PACK (Ranpak Holdings Corp.) may reap gains as insiders became active recently

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Ranpak Holdings Corp.’s filing revealed that its Director Tranen Alicia M. acquired Company’s shares for reported $26804.0 on Sep 08. In the deal valued at $5.03 per share,5,324 shares were bought. As a result of this transaction, Tranen Alicia M. now holds 170,560 shares worth roughly $ 0.89 million.


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Then, Tranen Alicia M. bought 15,236 shares, generating $74,504 in total proceeds. Upon buying the shares at $4.89, the Director now owns 165,236 shares.

Before that, Grassotti Antonio bought 5,000 shares. Ranpak Holdings Corp. shares valued at $29,750 were divested by the Managing Director, APAC at a price of $5.95 per share. As a result of the transaction, Grassotti Antonio now holds 62,130 shares, worth roughly $0.32 million.

Goldman initiated its Ranpak Holdings Corp. [PACK] rating to a Neutral in a research note published on Friday, August 24, 2021; the price target was $32. PT values the company’s stock at a premium of 83.66 to its Friday closing price. A number of analysts have revised their coverage, including Robert W. Baird’s analysts, who began to cover the stock in early August with a ‘”an Outperform”‘ rating. Berenberg began covering PACK with “Buy” recommendation on April 26, 2021.

Price Performance Review of PACK

On Friday, Ranpak Holdings Corp. [NYSE:PACK] saw its stock jump 4.81% to $5.23. On the same session, the stock had its day’s lowest price of $4.92, but rose to a high of $5.30. Over the last five days, the stock has gained 38.36%. Ranpak Holdings Corp. shares have fallen nearly -86.08% since the year began. Nevertheless, the stocks have fallen -85.97% over the past one year. While a 52-week high of $42.97 was reached on 01/05/22, a 52-week low of $2.90 was recorded on 10/14/22. SMA at 50 days reached $4.12, while 200 days put it at $12.10. A total of 1.27 million shares were traded, compared to the trading of 1.48 million shares in the previous session.

Levels Of Support And Resistance For PACK Stock

The 24-hour chart illustrates a support level at 5.00, which if violated will result in even more drops to 4.77. On the upside, there is a resistance level at 5.38. A further resistance level may holdings at 5.53. The Relative Strength Index (RSI) on the 14-day chart is 76.71, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.00, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 3.23%. Stochastics %K at 94.31% indicates the stock is a selling.

How much short interest is there in Ranpak Holdings Corp.?

A steep rise in short interest was recorded in Ranpak Holdings Corp. stocks on Jul 14, 2022, growing by 0.35 million shares to a total of 3.58 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 3.23 million shares. There was a rise of 9.78%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.82% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.63.

Ranpak Holdings Corp. [PACK] – Who Are The Largest Shareholders?

In filings from JS Capital Management LLC, it is revealed that the company now owns 30,530,897 shares, or roughly 38.62% of the outstanding PACK shares. Over the last quarter, ArrowMark Colorado Holdings LLC purchased 2,649,433 shares of Ranpak Holdings Corp., while Threadneedle Asset Management Ltd bought 897,167 shares. At present, BlackRock Fund Advisors is holding 2,687,266 shares valued at $9.19 million. abrdn, Inc. owned 2,679,572 shares of the company at the time of its most recent 13F filing, worth $9.16 million.

According to FactSet, Ranpak Holdings Corp.’s share price will average $9.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 70.34 percent from its previous closing price of $4.99. Analysts expect Ranpak Holdings Corp. stock to reach the higher price of $14.00, while the lowest price estimate is $5.00. However, 4 analysts have rated PACK stock as an Overweight in their predictions for 2022.

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