Thomas J. Shaw, President and CEO of Retractable Technologies Inc. (NYSE:RVP), recently acquired 21,142 shares of common stock. The transaction, valued at approximately $15,661, was executed at a weighted average price of $0.7408 per share. Following this acquisition, Shaw directly owns 14,794,794 shares in the company. Additionally, he holds indirect control over 831,600 shares, with investment power over 500,000 of these shares as a trustee for a family member and voting control over the remainder through a voting agreement. The acquisition was made under a Rule 10b5-1 plan adopted on August 22, 2023.
InvestingPro Insights
In light of Thomas J. Shaw's recent stock acquisition, it's worth examining Retractable Technologies Inc.'s 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, with a concerning revenue decline of 30.08% over the same period. This downward trend is further emphasized by a 24.36% quarterly revenue decrease in Q2 2024.
Despite these challenges, InvestingPro Tips highlight that Retractable Technologies operates with a moderate level of debt and maintains liquid assets that exceed short-term obligations. These factors could provide some financial stability as the company navigates through its current unprofitable phase, as indicated by another InvestingPro Tip noting that the company has not been profitable over the last twelve months.
The stock's volatility, as mentioned in an InvestingPro Tip, is evident in its recent price performance. The company has experienced a 32.11% price decline over the past three months and a 35.65% drop over the last year. This context adds significance to Shaw's decision to increase his stake in the company.
For investors seeking a more comprehensive analysis, InvestingPro offers 5 additional tips for Retractable Technologies, which could provide further insights into the company's prospects and challenges.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.