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

StockNews.com initiated coverage on shares of Retractable Technologies (NYSE:RVP) in a research report sent to investors on Wednesday. The brokerage issued a hold rating on the stock.

Retractable Technologies Price Performance

Shares of RVP stock opened at $0.75 on Wednesday. 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 firm’s 50-day moving average is $0.78 and its two-hundred day moving average is $0.75. Retractable Technologies has a 12 month low of $0.56 and a 12 month high of $1.23. The company has a market capitalization of $22.46 million, a PE ratio of -1.39 and a beta of 2.08.

Institutional Investors Weigh In On Retractable Technologies

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

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.