IT Tech Packaging Inc. (ITP) – Don’t Be So Quick to Call it Dead

IT Tech Packaging Inc. (AMEX: ITP) is 15.00% higher on its value in year-to-date trading and has touched a low of $0.39 and a high of $1.39 in the current 52-week trading range. The ITP stock was last observed hovering at around $0.64 in the last trading session, with the day’s gains setting it 0.06% off its average median price target of $5.00 for the next 12 months. It is also 86.0% off the consensus price target high of $5.00 offered by 1 analysts, but current levels are 86.0% higher than the price target low of $5.00 for the same period.

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Currently trading at $0.70, the stock is 13.16% and 8.65% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.97 million and changing 8.59% at the moment leaves the stock 23.10% off its SMA200. ITP registered -32.49% loss for a year compared to 6-month gain of 4.32%. The firm has a 50-day simple moving average (SMA 50) of $0.6347 and a 200-day simple moving average (SMA200) of $0.5602.

The stock witnessed a -8.07% loss in the last 1 month and extending the period to 3 months gives it a 30.83%, and is 15.00% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.02% over the week and 7.24% over the month.

IT Tech Packaging Inc. (ITP) has around 428 employees, a market worth around $18.40M and $102.10M in sales. Profit margin for the company is -1.70%. Distance from 52-week low is 77.75% and -50.00% from its 52-week high. The company has generated returns on investments over the last 12 months (1.60%).

IT Tech Packaging Inc. (ITP) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for IT Tech Packaging Inc. (ITP) is a “Hold”. 1 analysts offering their recommendations for the stock, where 1 rate it as a Hold and 0 think it is a “Overweight”. 0 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

IT Tech Packaging Inc. is expected to release its quarterly report on 05/12/2021 and quarterly earnings per share for the current quarter are estimated at $0.The EPS is expected to grow by 120.70% this year.

IT Tech Packaging Inc. (ITP) Top Institutional Holders

4 institutions hold shares in IT Tech Packaging Inc. (ITP), with 5.42M shares held by insiders accounting for 19.00% while institutional investors hold 2.73% of the company’s shares. The shares outstanding are 25.82M, and float is at 23.10M with Short Float at 2.45%. Institutions hold 2.21% of the Float.

The top institutional shareholder in the company is Renaissance Technologies, LLC with over 0.4 million shares valued at $0.2 million. The investor’s holdings represent 1.41% of the ITP Shares outstanding. As of Sep 29, 2020, the second largest holder is Bridgeway Capital Management, Inc. with 0.15 million shares valued at $72118.0 to account for 0.52% of the shares outstanding. The other top investors are HRT Financial LLC which holds 75073.0 shares representing 0.26% and valued at over $36830.0, while UBS Group AG holds 0.02% of the shares totaling 6378.0 with a market value of $3129.0.

IT Tech Packaging Inc. (ITP) Insider Activity

A total of 0 insider transactions have happened at IT Tech Packaging Inc. (ITP) in the last six months, with sales accounting for 0 and purchases happening 0 times.

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