Thomas J. Shaw, the President and CEO of Retractable Technologies Inc. (NYSE:RVP), recently purchased 6,234 shares of the company's common stock. The transaction, which took place on October 10, was executed at a weighted average price of $0.7431 per share, amounting to a total value of approximately $4,632. Following this acquisition, Shaw directly owns 14,765,548 shares of the company.
In addition to his direct holdings, Shaw has indirect control over 831,600 shares. Of these, 500,000 shares are held in trust for a family member, with Shaw retaining investment power. The remaining shares fall under his voting control through a voting agreement. This transaction was conducted under a Rule 10b5-1 plan, adopted on August 22, 2023.
InvestingPro Insights
In light of Thomas J. Shaw's recent stock purchase, it's worth examining some key financial metrics and insights from InvestingPro to provide context for Retractable Technologies Inc.'s current position.
According to InvestingPro data, Retractable Technologies has faced significant challenges recently. The company's revenue for the last twelve months as of Q2 2024 stood at $38.25 million, marking a substantial decline of 30.08% compared to the previous period. This downward trend is also reflected in the quarterly revenue growth, which decreased by 24.36% in Q2 2024.
Despite these headwinds, InvestingPro Tips highlight that the company 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 challenges.
It's noteworthy that the stock has experienced significant volatility recently. InvestingPro Tips indicate that the stock price movements have been quite volatile, and it has fared poorly over the last month. This is corroborated by the InvestingPro data showing a 16.6% decline in the 1-month price total return.
For investors seeking a more comprehensive analysis, InvestingPro offers additional insights, with 6 more tips available for Retractable Technologies. These additional tips could provide valuable context for understanding the company's financial health and market position in greater depth.
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