Will current price volatility hamper IT Tech Packaging Inc. (ITP) future potential? – Marketing Sentinel

Will current price volatility hamper IT Tech Packaging Inc. (ITP) future potential?

IT Tech Packaging Inc. (NYSE:ITP) has a beta value of 0.21 and has seen 3,748,761 shares traded in the last trading session. The company, currently valued at $55.32 Million, closed the last trade at $0.56 per share which meant it gained $0.01 on the day or 1.05% during that session. The ITP stock price is -158.93% off its 52-week high price of $1.45 and 30.36% above the 52-week low of $0.39. If we look at the company’s 10-day average daily trading volume, we find that it stood at 5.14 Million shares traded. The 3-month trading volume is 14.16 Million shares.

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The consensus among analysts is that IT Tech Packaging Inc. (ITP) is a Hold stock at the moment, with a recommendation rating of 0. None of the analysts rate the stock as a Sell, while none rate it as Overweight. 1 out of 1 have rated it as a Hold, with no one of them advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.

IT Tech Packaging Inc. (NYSE:ITP) trade information

Sporting 1.05% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, Apr 26 when the ITP stock price touched $0.595 or saw a rise of 6.13%. Year-to-date, IT Tech Packaging Inc. shares have moved 0.36%, while the 5-day performance has seen it change 2.38%. Over the past 30 days, the shares of IT Tech Packaging Inc. (NYSE:ITP) have changed -12.73%. Short interest in the company has seen 4.37 Million shares shorted with days to cover at 0.31.

Wall Street analysts have a consensus price target for the stock at $5, which means that the shares’ value could jump 792.86% from current levels. The projected low price target is $5 while the price target rests at a high of $5. In that case, then, we find that the current price level is +792.86% off the targeted high while a plunge would see the stock lose 792.86% from current levels.

IT Tech Packaging Inc. (ITP) estimates and forecasts

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -18.8% over the past 5 years. Earnings growth for 2021 is a modest -307.9% while over the next 5 years, the company’s earnings are expected to increase by 20%.

IT Tech Packaging Inc. (NYSE:ITP)’s Major holders

Insiders own 5.47% of the company shares, while shares held by institutions stand at 0.96% with a share float percentage of 1.01%. Investors are also buoyed by the number of investors in a company, with IT Tech Packaging Inc. having a total of 7 institutions that hold shares in the company. The top two institutional holders are Renaissance Technologies, LLC with over 548.25 Thousand shares worth more than $305.1 Thousand. As of December 30, 2020, Renaissance Technologies, LLC held 0.48% of shares outstanding.

The other major institutional holder is HRT Financial LLC, with the holding of over 156.42 Thousand shares as of December 30, 2020. The firm’s total holdings are worth over $87.05 Thousand and represent 0.14% of shares outstanding.


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