Ra Medical Systems (NYSE:RMED) Shares Down 10%

Shares of Ra Medical Systems, Inc. (NYSE:RMED) fell 10% on Tuesday . The company traded as low as $7.50 and last traded at $7.90. 643,378 shares traded hands during mid-day trading, an increase of 62% from the average session volume of 396,317 shares. The stock had previously closed at $8.78.

A number of brokerages have weighed in on RMED. Piper Sandler decreased their price objective on Ra Medical Systems from $12.00 to $7.00 and set a “neutral” rating on the stock in a report on Sunday, November 29th. Zacks Investment Research lowered Ra Medical Systems from a “buy” rating to a “hold” rating in a report on Friday, January 22nd.

The firm has a market capitalization of $23.06 million, a price-to-earnings ratio of -0.19 and a beta of 1.62. The business has a 50 day simple moving average of $7.45 and a 200-day simple moving average of $6.87. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.30 and a current ratio of 4.62.

An institutional investor recently bought a new position in Ra Medical Systems stock. Squarepoint Ops LLC bought a new position in Ra Medical Systems, Inc. (NYSE:RMED) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 15,807 shares of the company’s stock, valued at approximately $117,000. Squarepoint Ops LLC owned about 0.54% of Ra Medical Systems as of its most recent SEC filing.

Ra Medical Systems Company Profile (NYSE:RMED)

Ra Medical Systems, Inc, a commercial-stage medical device company, develops, manufactures, and markets excimer lasers for use in the treatment of vascular and dermatological immune-mediated inflammatory diseases. The company offers DABRA (destruction of arteriosclerotic blockages by laser radiation ablation), a minimally-invasive excimer laser and disposable catheter system that is used by physicians in the endovascular treatment of vascular blockages resulting from lower extremity vascular disease.

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