IT Tech Packaging (NYSE:ITP) Shares Down 2.4%

IT Tech Packaging, Inc. (NYSE:ITP – Get Rating)’s share price was down 2.4% during mid-day trading on Friday . The company traded as low as $0.45 and last traded at $0.46. Approximately 5,789 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 28,027 shares. The stock had previously closed at $0.47.

IT Tech Packaging Stock Down 2.4 %

The business’s 50 day moving average price is $0.45 and its 200-day moving average price is $0.54. The firm has a market capitalization of $4.60 million, a PE ratio of -0.31 and a beta of -0.16. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.51 and a current ratio of 2.84.

IT Tech Packaging (NYSE:ITP – Get Rating) last announced its earnings results on Friday, March 24th. The company reported ($1.19) earnings per share for the quarter. IT Tech Packaging had a negative return on equity of 8.90% and a negative net margin of 16.07%. The business had revenue of $21.37 million for the quarter.

Institutional Investors Weigh In On IT Tech Packaging

A hedge fund recently raised its stake in IT Tech Packaging stock. Renaissance Technologies LLC increased its holdings in shares of IT Tech Packaging, Inc. (NYSE:ITP – Get Rating) by 46.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,313,666 shares of the company’s stock after buying an additional 415,409 shares during the period. Renaissance Technologies LLC owned about 1.33% of IT Tech Packaging worth $292,000 at the end of the most recent quarter. Institutional investors own 1.69% of the company’s stock.

About IT Tech Packaging

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IT Tech Packaging, Inc is a holding company, which engages in the production and distribution of paper products. It operates through the Dongfang Paper and Baoding Shengde segments. The Dongfang Paper segment produces printing paper and corrugating medium paper. The Baoding Shengde segment produces digital photo paper.