IT Tech Packaging (NYSE:ITP) Shares Up 1.9% – Here’s What Happened

IT Tech Packaging, Inc. (NYSE:ITP) shares were up 1.9% during trading on Friday . The stock traded as high as $0.30 and last traded at $0.28. Approximately 124,135 shares changed hands during mid-day trading, an increase of 99% from the average daily volume of 62,342 shares. The stock had previously closed at $0.27.

IT Tech Packaging Stock Performance

The stock has a fifty day simple moving average of $0.24 and a 200-day simple moving average of $0.24. The stock has a market cap of $2.77 million, a P/E ratio of -0.25 and a beta of -0.17. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.23 and a current ratio of 1.46.

IT Tech Packaging (NYSE:ITP) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.01) EPS for the quarter. IT Tech Packaging had a negative return on equity of 5.87% and a negative net margin of 14.00%. The business had revenue of $26.25 million during the quarter.

IT Tech Packaging Company Profile

IT Tech Packaging, Inc, together with its subsidiaries, engages in the production and distribution of paper products in the People's Republic of China. The company operates through three segments: Dongfang Paper, Tengsheng Paper, and Baoding Shengde. It offers corrugating medium papers to companies making corrugating cardboards; and offset printing papers to printing companies.