Ra Medical Systems (NYSE:RMED) Stock Price Up 5.9%

Ra Medical Systems, Inc. (NYSE:RMED) shares rose 5.9% during trading on Wednesday . The stock traded as high as $3.75 and last traded at $3.74. Approximately 763,430 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 2,715,719 shares. The stock had previously closed at $3.53.

Separately, Maxim Group reissued a “hold” rating on shares of Ra Medical Systems in a research report on Tuesday, March 23rd.

The company has a market capitalization of $20.80 million, a PE ratio of -0.19 and a beta of 1.54. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.33 and a quick ratio of 2.96. The company has a 50-day simple moving average of $4.39.

Ra Medical Systems (NYSE:RMED) last announced its earnings results on Tuesday, May 11th. The company reported ($2.48) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.94) by $0.46. Ra Medical Systems had a negative return on equity of 151.70% and a negative net margin of 857.56%. The firm had revenue of $1.12 million for the quarter.

A number of hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC purchased a new position in Ra Medical Systems during the 1st quarter worth $52,000. Renaissance Technologies LLC grew its stake in Ra Medical Systems by 9.5% during the 1st quarter. Renaissance Technologies LLC now owns 155,502 shares of the company’s stock valued at $725,000 after purchasing an additional 13,512 shares during the last quarter. Geode Capital Management LLC purchased a new stake in Ra Medical Systems during the 1st quarter valued at about $69,000. Morgan Stanley purchased a new stake in Ra Medical Systems during the 1st quarter valued at about $71,000. Finally, Squarepoint Ops LLC purchased a new stake in Ra Medical Systems during the 4th quarter valued at about $117,000. Hedge funds and other institutional investors own 25.38% of the company’s stock.

Ra Medical Systems Company Profile (NYSE:RMED)

Ra Medical Systems, Inc engages in the design, development and commercialization of excimer lasers for the treatment of dermatologic and cardiovascular diseases. The firm’s product, Pharos, is used for the treatment of difficult-to-treat, chronic diseases including psoriasis and vitiligo. It operates through the following segments: Dermatology and Vascular.

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