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

StockNews.com assumed coverage on shares of Retractable Technologies (NYSE:RVP) in a research note issued on Wednesday. The firm set a “hold” rating on the stock.

Retractable Technologies Price Performance

NYSE:RVP opened at $0.73 on Wednesday. The company has a 50-day moving average of $0.78 and a 200-day moving average of $0.75. The company has a market capitalization of $21.71 million, a price-to-earnings ratio of -1.34 and a beta of 2.08. Retractable Technologies has a 52 week low of $0.56 and a 52 week high of $1.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.92 and a current ratio of 8.57.

Hedge Funds Weigh In On Retractable Technologies

A hedge fund recently raised its stake in Retractable Technologies stock. Renaissance Technologies LLC lifted its holdings in shares of Retractable Technologies, Inc. (NYSE:RVP) by 9.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 361,253 shares of the company’s stock after acquiring an additional 31,140 shares during the period. Renaissance Technologies LLC owned approximately 1.21% of Retractable Technologies worth $249,000 as of its most recent filing with the SEC. 7.58% of the stock is currently owned by institutional investors and hedge funds.

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.