IT Tech Packaging, Inc. (NYSE:ITP) traded at $0.56 at last check on Friday, Oct 16, making an upward move of 12.33% on its previous day’s price.
Looking at the stock we see that its previous close was $0.5 and the beta (5Y monthly) reads 0.87 with the day’s price range being $0.5000 – 0.6990. The company has a 12-month trailing PE ratio of 10.64. In terms of its 52-week price range, ITP has a high of $1.2 and a low of $0.39. The company’s stock has gained about 17.5% over that past 30 days.
On the other hand, looking at the outlook for the ITP stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of Hold.
Based on estimates by 1 analysts where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 1 have rated the IT Tech Packaging, Inc. (ITP) stock as a Hold, while none rate it as a Buy. None analysts rate it as outperform while none of them rated it as underperform, whereas none suggests the stock as a Sell. The stock has an overall rating of Hold and investors could take advantage and scoop up stock of the company.
Looking further, we note that the PEG ratio for the ITP stock currently stands at 0.53, and the current price level is 14.37% off its SMA20 and 20.08% from its 50-day simple moving average. The RSI (14) is pointing at 69.41 while the volatility over the past week is 1070% and drops to 6.99% over the past one month. The beta value is 0.87, while the average true range (ATR) is currently pointing at 0.04. The average price target for the stock over the next 12 months is $5, with the estimates having a low of $5 and a high of $5. These price ends are 792.86% and +792.86% off the current price level respectively, although investors could be excited at the prospect of a +792.86% if the ITP share price touches on the median price of $5.
Let’s briefly compare IT (ITP) stock to its peers. We find that today’s price change of +12.33% and -16.27% over the past 12 months for ITP competes that of International Paper Company (IP), which has seen its stock price rise 2.17% in the latest trading session and is +11.15% over the last one year. Another of its peers Suzano Papel E Celul (SUZ) has climbed 4.44% today, and is +10.23% up over the past year, while Westrock Company (WRK) is also up 12.33% yet its price remains in the red at -16.27% over the same period. International has a P/E ratio of 28.98 compared to IT’s 10.64 and Suzano’s 0. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 0.01% and 0.39%, respectively, in early deals.
Coming back to IT Tech Packaging, Inc. (NYSE:ITP), we note that the average 3-month trading volume was 121.85 Million, while that of the preceding 10-day period stands at 70.71 Million. Current shares outstanding are 28.51 Million.
According to data from Thomson Reuters, insiders hold 19.04% of the company’s shares while institutions hold 1.26%. The data shows that short shares as of September 29, 2020, stood at 246.8 Million at a short ratio of 2.52. This represents a 0.87% Short interest in Shares outstanding on September 29, 2020. Shares short rose in September from the previous month at 237.62 Million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -40% down in year-to-date price movement.