Retractable Technologies (NYSE:RVP) Trading Down 0.9% – Should You Sell?

Retractable Technologies, Inc. (NYSE:RVP)’s stock price dropped 0.9% during trading on Friday . The company traded as low as $0.75 and last traded at $0.83. Approximately 208,955 shares changed hands during mid-day trading, an increase of 254% from the average daily volume of 59,025 shares. The stock had previously closed at $0.83.

Analysts Set New Price Targets

Separately, Wall Street Zen initiated coverage on Retractable Technologies in a research note on Thursday, May 22nd. They issued a “hold” rating for the company.

Retractable Technologies Stock Performance

The company has a quick ratio of 5.92, a current ratio of 8.57 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $0.71 and a 200-day moving average price of $0.72. The firm has a market capitalization of $24.76 million, a price-to-earnings ratio of -1.53 and a beta of 1.15.

Insider Activity

In other Retractable Technologies news, CEO Thomas J. Shaw acquired 49,541 shares of Retractable Technologies stock in a transaction dated Thursday, August 7th. The stock was acquired at an average cost of $0.75 per share, for a total transaction of $37,155.75. Following the completion of the transaction, the chief executive officer owned 15,578,754 shares in the company, valued at approximately $11,684,065.50. This represents a 0.32% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders purchased 234,393 shares of company stock worth $171,225 in the last three months. Insiders own 57.10% of the company’s stock.

Hedge Funds Weigh In On Retractable Technologies

A hedge fund recently raised its stake in Retractable Technologies stock. Renaissance Technologies LLC lifted its holdings in shares of Retractable Technologies, Inc. (NYSE:RVP) by 9.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 361,253 shares of the company’s stock after buying an additional 31,140 shares during the period. Renaissance Technologies LLC owned approximately 1.21% of Retractable Technologies worth $249,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 7.58% of the company’s stock.

About Retractable Technologies

Retractable Technologies, Inc designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession in the United States, rest of North and South America, and internationally. The company offers VanishPoint insulin syringes; tuberculin, insulin, and allergy antigen syringes; small diameter tube adapters; blood collection tube holders; allergy trays; IV safety catheters; Patient Safe syringes and Luer Caps; VanishPoint blood collection sets; EasyPoint needles; and VanishPoint autodisable syringes.