ITP has been a popular stock amongst traders over the last two weeks. The stock has made an impressive gain of over 100%, rising from $0.21 to the current price of $0.43.

IT Tech Packaging

IT Tech Packaging is a leading paper manufacturer in North China. Using recycled paper as its primary raw material, the company produces and distributes three categories of paper products: packaging paper (corrugating medium paper), offset printing paper and other paper products, which include digital photo paper as well as tissue paper, a part of the Company’s current business expansion plans.

The company’s mission is to create a circular economy, inheriting Chinese civilisation, while also creating a green, environmentally friendly industry.

Growth

The company has shown impressive growth in their Q4 2021 financial results. Revenue has increased YoY to $45.1M (up 38.7%) due to an increase in sales of their corrugating medium paper products. Gross profit has risen by 481% to $4.3M. Their gross margin is now at 9.6%, up from 2.3%.

ITP ended the year with $11.2M in cash.

ITP

ITP has a share float of 99.05 million. The market cap of the company sits at $44M. The past two weekly candles have made a strong move up, both supported by good volume. This current candle looks likely to close strong.

What price could ITP see? $0.545 had some resistance throughout last year. This is a target for us. Past this, the price could reach above $0.70.

Top mover

This small cap looks likely to continue its momentum upwards. The stock is in a strong demand right now and we think the price can reach our target.

Please read our full disclaimers regarding the information published. The above is intended for informative purposes only and should not be taken as investment advice. Trading on leverage can result in losses larger than your initial deposit.

Leave a Reply