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

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

Retractable Technologies Stock Performance

RVP stock opened at $0.68 on Friday. The company has a 50 day moving average price of $0.77 and a 200 day moving average price of $0.73. Retractable Technologies has a fifty-two week low of $0.56 and a fifty-two week high of $1.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.57 and a quick ratio of 5.92. The stock has a market capitalization of $20.36 million, a PE ratio of -1.26 and a beta of 2.28.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Retractable Technologies stock. Wealthfront Advisers LLC purchased a new position in shares of Retractable Technologies, Inc. (NYSE:RVP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,533,952 shares of the company’s stock, valued at approximately $1,748,000. Wealthfront Advisers LLC owned about 8.46% of Retractable Technologies at the end of the most recent reporting period. 7.58% of the stock is owned by hedge funds and other institutional investors.

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.