Retractable Technologies (NYSE:RVP) Trading Down 1.3% – Here’s What Happened

Retractable Technologies, Inc. (NYSE:RVP)’s stock price traded down 1.3% during trading on Thursday . The company traded as low as $0.70 and last traded at $0.7029. 13,613 shares traded hands during trading, a decline of 77% from the average session volume of 58,558 shares. The stock had previously closed at $0.7120.

Retractable Technologies Stock Performance

The company has a market capitalization of $20.36 million, a P/E ratio of -1.26 and a beta of 1.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.57 and a quick ratio of 5.92. The stock’s 50 day simple moving average is $0.70 and its two-hundred day simple moving average is $0.69.

Institutional Investors Weigh In On Retractable Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Susquehanna International Group LLP increased its position in Retractable Technologies by 135.3% in the third quarter. Susquehanna International Group LLP now owns 54,546 shares of the company’s stock worth $46,000 after purchasing an additional 31,362 shares during the period. BlackRock Inc. bought a new position in shares of Retractable Technologies in the 2nd quarter valued at about $174,000. Renaissance Technologies LLC boosted its stake in shares of Retractable Technologies by 4.5% in the 4th quarter. Renaissance Technologies LLC now owns 447,007 shares of the company’s stock valued at $345,000 after purchasing an additional 19,443 shares during the last quarter. Finally, Eversept Partners LP grew its position in shares of Retractable Technologies by 59.9% during the 4th quarter. Eversept Partners LP now owns 580,919 shares of the company’s stock worth $449,000 after buying an additional 217,604 shares during the period. 7.58% of the stock is owned by institutional investors and hedge funds.

About Retractable Technologies

Retractable Technologies, Inc is a U.S.-based medical device company specializing in the design, development and manufacture of safety-engineered injection technologies aimed at reducing needlestick injuries. Headquartered in Little Elm, Texas, Retractable Technologies offers proprietary needle retraction systems that automatically withdraw the needle into the syringe barrel immediately after use, thereby enhancing safety for healthcare workers and patients.

The company’s flagship product, VanishPoint®, features a one-handed, automatic retraction mechanism and is available in multiple configurations, including standard syringes and Luer-lock fittings.