ITP Stock Summary and Trading Ideas (It Tech Packaging | AMEX:ITP)

IT Tech Packaging Inc is a holding company engaged in the business of paper manufacturing in China. The company operates as a producer and distributor of paper products. It involves in production and distribution of three categories of paper products: packing paper (corrugating medium paper), offset printing paper, and tissue paper products. It also produces digital photo paper. Its business is structured into three segments Dongfang Paper and Tengsheng Paper, which produces offset printing paper, corrugating medium paper and tissue paper, and Baoding Shengde, which produces face masks and digital photo paper.

It Tech Packaging trades on the AMEX stock market under the symbol ITP.

As of April 19, 2024, ITP stock price declined to $0.22 with 8,455 million shares trading.

ITP has a beta of 0.41, meaning it tends to be less sensitive to market movements. ITP has a correlation of 0.01 to the broad based SPY ETF.

ITP has a market cap of $2.24 million. This is considered a Sub-Micro Cap stock.

In the last 3 years, ITP stock traded as high as $5.99 and as low as $.20.

ITP has underperformed the market in the last year with a price return of -49.5% while the SPY ETF gained +21.2%. ITP has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -12.8% and -20.6%, respectively, while the SPY returned +4.3% and -3.5%, respectively.

ITP support price is $.22 and resistance is $.25 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ITP stock will trade within this expected range on the day.