IT Tech Packaging (NYSE:ITP) Trading Down 1.2% – What’s Next?

IT Tech Packaging, Inc. (NYSE:ITP) shares dropped 1.2% during mid-day trading on Wednesday . The stock traded as low as $0.2150 and last traded at $0.2203. Approximately 306,853 shares traded hands during trading, an increase of 84% from the average daily volume of 166,697 shares. The stock had previously closed at $0.2230.

IT Tech Packaging Stock Performance

The stock has a fifty day moving average price of $0.23 and a 200 day moving average price of $0.23. The company has a current ratio of 1.59, a quick ratio of 1.31 and a debt-to-equity ratio of 0.03. The firm has a market cap of $3.74 million, a price-to-earnings ratio of -0.22 and a beta of -0.55.

Institutional Trading of IT Tech Packaging

A hedge fund recently bought a new stake in IT Tech Packaging stock. Financial Plan Inc. acquired a new position in shares of IT Tech Packaging, Inc. (NYSE:ITP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 135,000 shares of the company’s stock, valued at approximately $30,000. Financial Plan Inc. owned 0.80% of IT Tech Packaging at the end of the most recent quarter. 2.99% of the stock is currently owned by institutional investors.

About IT Tech Packaging

IT Tech Packaging, Inc (NYSE: ITP) is a global manufacturer of all-aluminum rigid packaging solutions, primarily serving the beauty, personal care, food and industrial markets. The company’s offering includes decorative and functional canisters, aerosol containers, tubes and closures that leverage corrosion-resistant, lightweight aluminum. By combining sheet-metal forming processes with proprietary printing and finishing technologies, IT Tech Packaging delivers premium packaging designed to meet both aesthetic and performance requirements.

Founded in the early 1990s and headquartered in the United States, IT Tech Packaging operates a network of production facilities across North America, Europe and Asia.