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

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

Retractable Technologies Trading Down 4.5 %

Shares of Retractable Technologies stock opened at $0.72 on Tuesday. Retractable Technologies has a 1-year low of $0.56 and a 1-year high of $1.24. The company’s fifty day simple moving average is $0.79 and its 200-day simple moving average is $0.76. The stock has a market capitalization of $21.67 million, a PE ratio of -1.34 and a beta of 2.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.57 and a quick ratio of 5.92.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Retractable Technologies stock. Wealthfront Advisers LLC acquired a new position in shares of Retractable Technologies, Inc. (NYSE:RVP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 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 SEC filing. 7.58% of the stock is currently 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.