Ra Medical Systems Inc. [NYSE: RMED] gained 13.22% or 1.03 points to close at $8.82 with a heavy trading volume of 2013416 shares. The company report on December 17, 2020 that Ra Medical Systems Announces Transfer of Listing to NYSE American.
Ra Medical Systems, Inc. (NYSE: RMED), a medical device company focusing on commercializing excimer laser systems to treat vascular and dermatological diseases, announces that its common stock has been approved for listing on the NYSE American, and the listing will be transferred by the New York Stock Exchange (NYSE).
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The Company anticipates that its common stock will begin trading on NYSE American at the commencement of trading on December 22, 2020 and will continue to trade on the NYSE until that time. The Company will retain its current ticker symbol “RMED.”.
It opened the trading session at $8.85, the shares rose to $9.47 and dropped to $7.90, the range by which the price of stock traded the whole day. The daily chart for RMED points out that the company has recorded -37.67% loss over the past six months. However, it is still -107.53% lower than its most recent low trading price.
If we look at the average trading volume of 214.37K shares, RMED reached to a volume of 2013416 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 0.72, with the Price to Sales ratio for RMED stock in the period of the last 12 months amounting to 5.27. The Price to Book ratio for the last quarter was 0.69.
Trading performance analysis for RMED stock
Ra Medical Systems Inc. [RMED] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 32.04. With this latest performance, RMED shares gained by 48.48% in over the last four-week period, additionally sinking by -37.67% over the last 6 months – not to mention a drop of -60.84% 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 73.16, with the RSI for the last a single of trading hit 80.02, and the three-weeks RSI is set at 67.58 for Ra Medical Systems Inc. [RMED]. The present Moving Average for the last 50 days of trading for this stock 6.01, while it was recorded at 7.64 for the last single week of trading, and 13.11 for the last 200 days.
Ra Medical Systems Inc. [RMED]: A deeper dive into fundamental analysis
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 4.60.
Ra Medical Systems Inc. [RMED]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Ra Medical Systems Inc. posted -18/share EPS, while the average EPS was predicted by analysts to be reported at -28.83/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 37.60%. 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.
An analysis of insider ownership at Ra Medical Systems Inc. [RMED]
There are presently around $3 million, or 15.40% of RMED stock, in the hands of institutional investors. The top three institutional holders of RMED stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 136,599, which is approximately 293.487% of the company’s market cap and around 7.40% of the total institutional ownership; TWO SIGMA ADVISERS, LP, holding 40,992 shares of the stock with an approximate value of $0.32 million in RMED stocks shares; and TWO SIGMA INVESTMENTS, LP, currently with $0.3 million in RMED stock with ownership of nearly 271.362% of the company’s market capitalization.
Positions in Ra Medical Systems Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 10 institutional holders increased their position in Ra Medical Systems Inc. [NYSE:RMED] by around 191,696 shares. Additionally, 10 investors decreased positions by around 24,394 shares, while 7 investors held positions by with 99,697 shares. The mentioned changes placed institutional holdings at 315,787 shares, according to the latest SEC report filing. RMED stock had 4 new institutional investments in for a total of 21,503 shares, while 5 institutional investors sold positions of 20,782 shares during the same period.