Ra Medical Systems Inc. [RMED] Is Currently 26.40 above its 200 Period Moving Avg: What Does This Mean?


Ra Medical Systems Inc. [AMEX: RMED] traded at a high on 04/28/22, posting a 26.40 gain after which it closed the day’ session at $0.37. The company report on April 5, 2022 that Ra Medical Systems Granted U.S. Patent for Laser Ablation Catheters with Expanded Ablation Area.

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Ra Medical Systems, Inc. (NYSE American: RMED), a medical device company focusing on developing its excimer laser system to treat vascular diseases, announces the United States Patent and Trademark Office has granted the company a patent for liquid-filled laser ablation catheters with expanded distal optical windows. U.S. patent 11,284,941 (the ’941 patent), titled Laser Ablation Catheters Having Expanded Distal Tip Windows for Efficient Tissue Ablation, describes a catheter with an increased ablation surface area at the distal catheter tip. This is the 11th U.S. patent issued to Ra Medical and is a natural evolution in the patent coverage of the company’s DABRA technology.

“The design covered by this patent is important because it allows us to achieve an increased ablation area without increasing the overall catheter profile. We believe this will make it easier for us to develop a family of products to address larger diameter vessels using the same base platform technology. The patent marks another milestone in our intellectual property strategy to fortify our competitive position both now and in the future,” said Will McGuire, Ra Medical Systems CEO.

The results of the trading session contributed to over 9263218 shares changing hands. Over the past one week, the price volatility of Ra Medical Systems Inc. stands at 13.05% while the volatility over the past one month is 9.72%.

The market cap for RMED stock reached $12.59 million, with 6.76 million shares outstanding. Compared to the average trading volume of 6.09M shares, RMED reached a trading volume of 9263218 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Ra Medical Systems Inc. [RMED]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RMED shares is $6.55 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RMED stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 3.02. The Price to Book ratio for the last quarter was 0.18, with the Price to Cash per share for the same quarter was set at 0.44.

How has RMED stock performed recently?

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 12.79. With this latest performance, RMED shares dropped by -10.38% in over the last four-week period, additionally sinking by -87.61% over the last 6 months – not to mention a drop of -91.16% 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 49.02, with the RSI for the last a single of trading hit 56.82, and the three-weeks RSI is set at 43.23 for Ra Medical Systems Inc. [RMED]. The present Moving Average for the last 50 days of trading for this stock 0.3993, while it was recorded at 0.3243 for the last single week of trading, and 1.9342 for the last 200 days.

Ra Medical Systems Inc. [RMED]: Deeper insight into the 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 -133027.27 and a Gross Margin at -6990.91. Ra Medical Systems Inc.’s Net Margin is presently recorded at -123913.64.

Return on Equity for this stock declined to -156.58, with Return on Assets sitting at -100.07.

Ra Medical Systems Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.00 and a Current Ratio set at 3.20.

Insider trade positions for Ra Medical Systems Inc. [RMED]

There are presently around $0 million, or 2.60% of RMED stock, in the hands of institutional investors. The top three institutional holders of RMED stocks are: VANGUARD GROUP INC with ownership of 149,887, which is approximately 0% of the company’s market cap and around 0.30% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 147,100 shares of the stock with an approximate value of $55000.0 in RMED stocks shares; and DOWLING & YAHNKE LLC, currently with $26000.0 in RMED stock with ownership of nearly 0% 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 10 institutional holders increased their position in Ra Medical Systems Inc. [AMEX:RMED] by around 269,190 shares. Additionally, 7 investors decreased positions by around 65,010 shares, while 11 investors held positions by with 370,836 shares. The mentioned changes placed institutional holdings at 705,036 shares, according to the latest SEC report filing. RMED stock had 6 new institutional investments in for a total of 223,824 shares, while 4 institutional investors sold positions of 29,887 shares during the same period.