IT Tech Packaging (NYSE:ITP) Trading 1.7% Higher – Should You Buy?

IT Tech Packaging, Inc. (NYSE:ITP) traded up 1.7% during mid-day trading on Friday . The company traded as high as $0.2131 and last traded at $0.2034. 30,307 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 187,594 shares. The stock had previously closed at $0.20.

IT Tech Packaging Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.59 and a quick ratio of 1.31. The firm has a market capitalization of $3.45 million, a PE ratio of -0.21 and a beta of -0.47. The firm has a fifty day moving average price of $0.22 and a 200 day moving average price of $0.23.

Institutional Trading of IT Tech Packaging

A hedge fund recently bought a new stake in IT Tech Packaging stock. Financial Plan Inc. bought a new position in IT Tech Packaging, Inc. (NYSE:ITP) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 135,000 shares of the company’s stock, valued at approximately $30,000. Financial Plan Inc. owned 0.80% of IT Tech Packaging as of its most recent SEC filing. Institutional investors own 2.99% of the company’s stock.

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.