Retractable Technologies (NYSE:RVP) Shares Down 0.6% – Should You Sell?

Retractable Technologies, Inc. (NYSE:RVP)’s share price traded down 0.6% on Thursday . The stock traded as low as $0.6910 and last traded at $0.6968. Approximately 19,976 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 68,895 shares. The stock had previously closed at $0.7008.

Retractable Technologies Price Performance

The company has a 50 day moving average of $0.69 and a two-hundred day moving average of $0.70. The firm has a market cap of $20.81 million, a P/E ratio of -1.29 and a beta of 1.22. The company has a quick ratio of 5.92, a current ratio of 8.57 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On Retractable Technologies

Hedge funds have recently made changes to their positions in the business. Eversept Partners LP lifted its stake in Retractable Technologies by 59.9% during the fourth quarter. Eversept Partners LP now owns 580,919 shares of the company’s stock valued at $449,000 after purchasing an additional 217,604 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Retractable Technologies by 4.5% during the fourth quarter. Renaissance Technologies LLC now owns 447,007 shares of the company’s stock worth $345,000 after buying an additional 19,443 shares in the last quarter. Finally, Susquehanna International Group LLP grew 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 buying an additional 31,362 shares during the last quarter. Institutional investors and hedge funds own 7.58% of the company’s stock.

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.