IT Tech Packaging (NYSE:ITP) Trading 3.5% Higher

IT Tech Packaging, Inc. (NYSE:ITP) traded up 3.5% on Friday . The stock traded as high as $0.31 and last traded at $0.29. 14,958 shares were traded during trading, a decline of 63% from the average session volume of 40,157 shares. The stock had previously closed at $0.28.

IT Tech Packaging Stock Up 3.5 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.97 and a current ratio of 3.41. The firm has a market cap of $2.95 million, a price-to-earnings ratio of -0.16 and a beta of -0.08. The firm has a 50-day moving average price of $0.36 and a two-hundred day moving average price of $0.42.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in IT Tech Packaging stock. Millennium Management LLC increased its holdings in IT Tech Packaging, Inc. (NYSE:ITP) by 481.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 217,990 shares of the company’s stock after acquiring an additional 180,497 shares during the quarter. Millennium Management LLC owned approximately 2.20% of IT Tech Packaging worth $26,000 as of its most recent filing with the SEC. 1.79% of the stock is owned by institutional investors.

About IT Tech Packaging

IT Tech Packaging, Inc, through its subsidiaries, engages in the production and distribution of paper products in the People's Republic of China. It offers corrugating medium papers to companies making corrugating cardboards; and offset printing papers to printing companies. The company also provides tissue paper products, including toilet papers, boxed and soft-packed tissues, handkerchief tissues, and paper napkins, as well as bathroom and kitchen paper towels under the Dongfang Paper brand.