IT Tech Packaging (NYSE:ITP) Issues Earnings Results

IT Tech Packaging (NYSE:ITPGet Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.40) earnings per share (EPS) for the quarter, reports. The business had revenue of $20.96 million during the quarter. IT Tech Packaging had a negative return on equity of 5.72% and a negative net margin of 11.49%.

IT Tech Packaging Trading Up 4.7 %

NYSE ITP opened at $0.27 on Friday. IT Tech Packaging has a 52 week low of $0.20 and a 52 week high of $0.65. The stock’s 50 day moving average price is $0.27 and its two-hundred day moving average price is $0.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.97 and a current ratio of 3.41.

Institutional Investors Weigh In On IT Tech Packaging

A hedge fund recently raised its stake in IT Tech Packaging stock. Millennium Management LLC increased its stake in shares of IT Tech Packaging, Inc. (NYSE:ITPFree Report) by 481.4% during the 2nd quarter, according to 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 period. Millennium Management LLC owned about 2.20% of IT Tech Packaging worth $26,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 2.99% of the company’s stock.

IT Tech Packaging Company Profile

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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.

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Earnings History for IT Tech Packaging (NYSE:ITP)

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