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

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

Retractable Technologies Trading Down 5.9 %

NYSE:RVP opened at $0.68 on Friday. Retractable Technologies has a 52-week low of $0.56 and a 52-week high of $1.22. 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 stock has a fifty day simple moving average of $0.75 and a 200-day simple moving average of $0.73. The company has a market capitalization of $20.36 million, a PE ratio of -1.26 and a beta of 2.28.

Institutional Trading of Retractable Technologies

An institutional investor recently bought a new position in Retractable Technologies stock. Wealthfront Advisers LLC purchased a new position in Retractable Technologies, Inc. (NYSE:RVP) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing. 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.