Ra Medical Systems Inc. [RMED] Stock trading around $0.29 per share: What’s Next?

Ra Medical Systems Inc. [NYSE: RMED] closed the trading session at $0.29 on 07/31/20. The day’s price range saw the stock hit a low of $0.276, while the highest price level was $0.30. The company report on July 30, 2020 that Ra Medical Systems Announces Pricing of $12.0 Million Upsized Public Offering.

Ra Medical Systems, Inc. (“Ra Medical”) (NYSE: RMED), a commercial-stage medical device company leveraging its advanced excimer laser-based platform for use in the treatment of vascular and dermatological immune-mediated inflammatory diseases, today announced that it has priced a public offering of an aggregate of 34,285,714 shares of common stock (or common stock equivalents), together with accompanying warrants to purchase up to an aggregate of 34,285,714 shares of common stock, at a public offering price of $0.35 per share and accompanying warrant. Each share of common stock (or common stock equivalent) will be sold in the offering with one warrant to purchase one share of common stock. The warrants have an exercise price of $0.35 per share, are immediately exercisable, and expire five years following the date of issuance.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The stocks have a year to date performance of -74.12 percent and weekly performance of -24.24 percent. The stock has been moved at -88.16 percent over the last six months. The stock has performed -38.08 percent around the most recent 30 days and changed -70.45 percent over the most recent 3-months.

If compared to the average trading volume of 4.36M shares, RMED reached to a volume of 8124482 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Ra Medical Systems Inc. [RMED]:

Piper Jaffray have made an estimate for Ra Medical Systems Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 13, 2019. While these analysts kept the previous recommendation, Maxim Group raised their target price to Buy. The new note on the price target was released on November 02, 2018, representing the official price target for Ra Medical Systems Inc. stock.

The Average True Range (ATR) for Ra Medical Systems Inc. is set at 0.04, with the Price to Sales ratio for RMED stock in the period of the last 12 months amounting to 1.53. The Price to Book ratio for the last quarter was 0.15, with the Price to Cash per share for the same quarter was set at 0.66.

RMED stock trade performance evaluation

Ra Medical Systems Inc. [RMED] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -24.24. With this latest performance, RMED shares dropped by -38.08% in over the last four-week period, additionally sinking by -88.16% over the last 6 months – not to mention a drop of -89.84% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RMED stock in for the last two-week period is set at 23.96, with the RSI for the last a single of trading hit 17.15, and the three-weeks RSI is set at 27.27 for Ra Medical Systems Inc. [RMED]. The present Moving Average for the last 50 days of trading for this stock 0.4877, while it was recorded at 0.3328 for the last single week of trading, and 1.1497 for the last 200 days.

Ra Medical Systems Inc. [RMED]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Ra Medical Systems Inc. [RMED] shares currently have an operating margin of -801.92 and a Gross Margin at -22.93. Ra Medical Systems Inc.’s Net Margin is presently recorded at -791.18.

Return on Total Capital for RMED is now -110.81, given the latest momentum, and Return on Invested Capital for the company is -110.28. Return on Equity for this stock declined to -114.08, with Return on Assets sitting at -96.44. When it comes to the capital structure of this company, Ra Medical Systems Inc. [RMED] has a Total Debt to Total Equity ratio set at 10.55. Additionally, RMED Total Debt to Total Capital is recorded at 9.54, with Total Debt to Total Assets ending up at 7.93. Long-Term Debt to Equity for the company is recorded at 8.70, with the Long-Term Debt to Total Capital now at 7.87.

Reflecting on the efficiency of the workforce at the company, Ra Medical Systems Inc. [RMED] managed to generate an average of -$720,975 per employee. Receivables Turnover for the company is 6.84 with a Total Asset Turnover recorded at a value of 0.12.Ra Medical Systems Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.30 and a Current Ratio set at 4.80.

Earnings per share (EPS) analysis for Ra Medical Systems Inc. [RMED] stock

With the latest financial reports released by the company, Ra Medical Systems Inc. posted -1.16/share EPS, while the average EPS was predicted by analysts to be reported at -0.98/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -18.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RMED.

Ra Medical Systems Inc. [RMED]: Insider Ownership positions

There are presently around $1 million, or 11.00% of RMED stock, in the hands of institutional investors. The top three institutional holders of RMED stocks are: ALETHEA CAPITAL MANAGEMENT, LLC with ownership of 525,680, which is approximately 0% of the company’s market cap and around 1.60% of the total institutional ownership; BALCH HILL CAPITAL LLC, holding 500,000 shares of the stock with an approximate value of $0.15 million in RMED stocks shares; and PRINCIPAL FINANCIAL GROUP INC, currently with $0.14 million in RMED stock with ownership of nearly -8.124% of the company’s market capitalization.

Positions in Ra Medical Systems Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 13 institutional holders increased their position in Ra Medical Systems Inc. [NYSE:RMED] by around 694,459 shares. Additionally, 6 investors decreased positions by around 104,067 shares, while 3 investors held positions by with 1,757,193 shares. The mentioned changes placed institutional holdings at 2,555,719 shares, according to the latest SEC report filing. RMED stock had 6 new institutional investments in for a total of 565,374 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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