Retractable Technologies (NYSE:RVP) Stock Price Up 1.5% – Here’s Why

Retractable Technologies, Inc. (NYSE:RVP)’s share price rose 1.5% during mid-day trading on Wednesday . The stock traded as high as $0.6796 and last traded at $0.6698. Approximately 86,810 shares changed hands during trading, an increase of 26% from the average daily volume of 68,817 shares. The stock had previously closed at $0.66.

Retractable Technologies Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.92 and a current ratio of 8.57. The firm has a market cap of $20.05 million, a PE ratio of -1.24 and a beta of 1.27. The firm has a fifty day simple moving average of $0.68 and a two-hundred day simple moving average of $0.71.

Institutional Investors Weigh In On Retractable Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RVP. Eversept Partners LP lifted its stake in shares of Retractable Technologies by 59.9% in the 4th 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. Susquehanna International Group LLP boosted its holdings in shares of Retractable Technologies by 135.3% in the 3rd 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 during the period. Finally, Renaissance Technologies LLC increased its position in shares of Retractable Technologies by 4.5% during the 4th 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 during the last quarter. 7.58% of the stock is currently owned by hedge funds and other institutional investors.

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.