The trading price of IT Tech Packaging, Inc. (NYSE:ITP) closed higher on Tuesday, Jan 12, closing at $0.68, 16.19% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $0.7001 and $0.8800. The company’s P/E ratio in the trailing 12-month period was 0, while its 5Y monthly beta was 0.38. In examining the 52-week price action we see that the stock hit a 52-week high of $1.39 and a 52-week low of $0.39. Over the past month, the stock has gained 25.14% in value.
On the technical side, indicators suggest ITP has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned ITP a recommendation rating is 1. Out of them, 1 rate it a Hold, while none recommend Buy, whereas none assign an Outperform rating. None analyst(s) have tagged IT Tech Packaging, Inc. (ITP) as Underperform, while not any of them advise Sell. Analysts have rated the stock Hold, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that ITP’s price is currently 28.12% off the SMA20 and 23.97% off the SMA50. The RSI metric on the 14-day chart is currently showing 68.84, and weekly volatility stands at 1307%. When measured over the past 30 days, the indicator reaches 8.54%. IT Tech Packaging, Inc. (NYSE:ITP)’s beta value is currently sitting at 0.38, while the Average True Range indicator is currently displaying 0.06. With analysts defining $5-$5 as the low and high price targets, we arrive at a consensus price target of $5 for the trailing 12-month period. The current price is about 532.91% off the estimated low and 532.91% off the forecast high, based on this estimate. Investors will be thrilled if ITP’s share price rises to $5, which is the median consensus price. At that level, ITP’s share price would be +532.91% above current price.
To see how IT Tech Packaging, Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: ITP stock’s performance was +16.19% in the latest trading, and -12.61% in the past year, while International Paper Company (IP) has traded +1.02% on the day and positioned +18.43% higher than it was a year ago. Another comparable company Suzano Papel E Celul (SUZ) saw its stock close 3.88% higher in the most recent trading session but was up +7.66% in a year. Furthermore, Westrock Company (WRK) showed an increase of 16.19% on the day while its price kept declining at -12.61% over the past year. IT Tech Packaging, Inc. has a P/E ratio of 0, compared to International Paper Company’s 42 and Suzano Papel E Celul’s 0. Also in last trading session, the S&P 500 Index has surged 0.04%, while the Dow Jones Industrial also saw a positive session, up +0.19% on the day.
An evaluation of the daily trading volume of IT Tech Packaging, Inc. (NYSE:ITP) indicates that the 3-month average is 2.46 Million. However, this figure has declined over the past 10 days to an average of 1.23 Million.
Currently, records show that 28.51 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 19% of outstanding shares, whereas institutions hold 2.21%. The stats also highlight that short interest as of December 14, 2020, stood at 565.6 Million shares, resulting in a short ratio of 0.49 at that time. From this, we can conclude that short interest is 1.98% of the company’s total outstanding shares. It is noteworthy that short shares in December were up slightly from the previous month’s figure, which was 546.98 Million. However, since the stock’s price has seen +41.96% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
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