Thomas J. Shaw, President and CEO of Retractable Technologies Inc. (NYSE:RVP), recently acquired 11,477 shares of the company's common stock. The purchase, made on November 12, amounted to approximately $8,150, with shares priced at an average of $0.7102 each. This transaction increases Shaw's direct ownership to 14,836,628 shares. Additionally, Shaw holds indirect control over 831,600 shares, with 500,000 of these under his investment power as a trustee for a family member. The acquisition was executed under a pre-established Rule 10b5-1 trading plan, adopted on August 22, 2023.
InvestingPro Insights
In light of Thomas J. Shaw's recent stock acquisition, it's worth examining Retractable Technologies' current financial position. According to InvestingPro data, the company's revenue for the last twelve months as of Q2 2024 stood at $38.25 million, marking a significant decline of 30.08% compared to the previous period. This downturn is further emphasized by the quarterly revenue growth of -24.36% in Q2 2024.
Despite these challenging figures, InvestingPro Tips highlight that Retractable Technologies operates with a moderate level of debt and its liquid assets exceed short-term obligations. These factors could provide some financial stability as the company navigates through its current revenue challenges.
However, it's important to note that the company is not profitable over the last twelve months, with an operating income of -$12.46 million and a negative operating income margin of -32.58%. This aligns with another InvestingPro Tip indicating that the stock's valuation implies a poor free cash flow yield.
For investors seeking a more comprehensive analysis, InvestingPro offers 6 additional tips for Retractable Technologies, providing a deeper understanding of the company's financial health and market position.
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