StockNews.com Begins Coverage on Retractable Technologies (NYSE:RVP)

StockNews.com assumed coverage on shares of Retractable Technologies (NYSE:RVP) in a report released on Friday. The brokerage issued a hold rating on the stock.

Retractable Technologies Stock Performance

NYSE:RVP opened at $1.09 on Friday. The stock’s 50-day simple moving average is $1.16 and its 200 day simple moving average is $1.15. The firm has a market capitalization of $32.63 million, a PE ratio of -4.54 and a beta of 2.11. The company has a quick ratio of 6.41, a current ratio of 8.28 and a debt-to-equity ratio of 0.01. Retractable Technologies has a twelve month low of $0.95 and a twelve month high of $1.62.

Hedge Funds Weigh In On Retractable Technologies

An institutional investor recently raised its position in Retractable Technologies stock. WealthTrust Axiom LLC boosted its holdings in Retractable Technologies, Inc. (NYSE:RVP) by 27.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 126,533 shares of the company’s stock after purchasing an additional 27,500 shares during the quarter. WealthTrust Axiom LLC owned about 0.42% of Retractable Technologies worth $151,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 7.58% of the company’s stock.

About Retractable Technologies

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.