Retractable Technologies, Inc. (RVP) Sees Large Drop in Short Interest
Retractable Technologies, Inc. (NYSEMKT:RVP) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 43,030 shares, a drop of 29.6% from the October 13th total of 61,135 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 439,275 shares, the short-interest ratio is currently 0.1 days.
Separately, ValuEngine raised shares of Retractable Technologies from a “sell” rating to a “hold” rating in a report on Monday, October 2nd.
In other news, insider Thomas J. Shaw acquired 1,000,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was bought at an average price of $0.57 per share, with a total value of $570,000.00. Following the completion of the acquisition, the insider now owns 13,065,642 shares in the company, valued at approximately $7,447,415.94. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have bought 1,095,381 shares of company stock valued at $630,773.
An institutional investor recently raised its position in Retractable Technologies stock. WealthTrust Axiom LLC raised its holdings in Retractable Technologies, Inc. (NYSEMKT:RVP) by 6.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 583,062 shares of the company’s stock after acquiring an additional 36,898 shares during the quarter. WealthTrust Axiom LLC owned about 1.84% of Retractable Technologies worth $740,000 as of its most recent SEC filing.
Shares of Retractable Technologies (RVP) opened at $0.62 on Tuesday. Retractable Technologies has a fifty-two week low of $0.54 and a fifty-two week high of $2.60.
Retractable Technologies (NYSEMKT:RVP) last issued its quarterly earnings results on Monday, August 14th. The company reported ($0.05) earnings per share for the quarter. Retractable Technologies had a negative net margin of 17.65% and a negative return on equity of 22.24%. The company had revenue of $7.65 million during the quarter.
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Retractable Technologies Company Profile
Retractable Technologies, Inc designs, develops and manufactures safety medical products for the healthcare industry. The Company markets VanishPoint and PatientSafe products. The VanishPoint products are designed specifically to prevent needle stick injuries and to prevent reuse. The VanishPoint safety products include tuberculin, insulin and allergy antigen VanishPoint syringes; 0.5mL, 1mL, 2mL, 3mL, 5mL and 10mL VanishPoint syringes, and the VanishPoint autodisable syringe.
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