Retractable Technologies, Inc. (NYSE:RVP) Sees Significant Increase in Short Interest

Retractable Technologies, Inc. (NYSE:RVP) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 34,400 shares, agrowthof57.8% from the July 15th total of 21,800 shares. Approximately0.3% of the shares of the stock are sold short. Based on an average daily volume of 53,100 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily volume of 53,100 shares, the days-to-cover ratio is currently 0.6 days. Approximately0.3% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

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

Insider Activity at Retractable Technologies

In other news, CEO Thomas J. Shaw acquired 49,541 shares of Retractable Technologies stock in a transaction dated Thursday, August 7th. The shares were purchased at an average cost of $0.75 per share, for a total transaction of $37,155.75. Following the transaction, the chief executive officer owned 15,578,754 shares of the company’s stock, valued at $11,684,065.50. This trade represents a 0.32% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders bought 225,351 shares of company stock worth $163,992. 57.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Retractable Technologies stock. Renaissance Technologies LLC boosted its holdings in shares of Retractable Technologies, Inc. (NYSE:RVP) by 9.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 361,253 shares of the company’s stock after purchasing an additional 31,140 shares during the period. Renaissance Technologies LLC owned about 1.21% of Retractable Technologies worth $249,000 at the end of the most recent reporting period. 7.58% of the stock is owned by institutional investors and hedge funds.

Retractable Technologies Trading Down 0.8%

NYSE RVP opened at $0.7940 on Wednesday. Retractable Technologies has a 1-year low of $0.5649 and a 1-year high of $1.00. The company has a current ratio of 8.57, a quick ratio of 5.92 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $0.70 and a 200-day moving average of $0.72. The firm has a market cap of $23.77 million, a PE ratio of -1.47 and a beta of 1.15.

Retractable Technologies Company Profile

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.