Retractable Technologies (NYSE:RVP) Shares Up 2% – What’s Next?

Retractable Technologies, Inc. (NYSE:RVP)’s stock price shot up 2% during mid-day trading on Friday . The stock traded as high as $0.7093 and last traded at $0.7040. 9,468 shares were traded during trading, a decline of 82% from the average session volume of 51,559 shares. The stock had previously closed at $0.69.

Retractable Technologies Trading Up 2.0%

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 firm has a market cap of $21.08 million, a price-to-earnings ratio of -1.30 and a beta of 1.26. The company has a 50-day moving average price of $0.70 and a 200 day moving average price of $0.80.

Hedge Funds Weigh In On Retractable Technologies

A number of large investors have recently made changes to their positions in RVP. Susquehanna International Group LLP lifted its position in shares of 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 in the last quarter. Renaissance Technologies LLC grew its position in Retractable Technologies by 4.5% during the fourth 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 in the last quarter. Finally, Eversept Partners LP grew its position 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 in 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.