Ra Medical Systems Inc. [RMED] Is Currently 10.56 above its 200 Period Moving Avg: What Does This Mean?


Ra Medical Systems Inc. [AMEX: RMED] stock went on an upward path that rose over 10.56% on Monday, amounting to a one-week price decrease of less than -49.06%. The company report on July 22, 2022 that Ra Medical Systems Enters Into Agreements to Raise $6.2 Million Through Previously Issued Warrants and Plans Strategic Merger with Catheter Precision Inc.

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Ra Medical Systems, Inc. (NYSE American: RMED) (“Ra Medical” or the “Company) announces a reduction in the exercise price of all existing warrants that were issued in the February 2022 public offering, consisting of Series A Warrants and Series B Warrants, from $0.50 per share to $0.28 per share, and entry into a non-binding term sheet to merge with privately held Catheter Precision Inc. (“Catheter Precision”).

On July 22, 2022, Ra Medical entered into warrant inducement offer letters with certain investors to immediately exercise up to an aggregate of 22.2 million of the Series A Warrants held by such investors at an exercise price of $0.28, with none of the investors electing to exercise any Series B Warrants. Investors who exercise their Series A Warrants will receive additional Series C Warrants to purchase 100% of the shares exercised pursuant to the Series A Warrants and which will, among other terms, have an exercise price of $0.28 and a term of five years. Ra Medical expects to receive aggregate gross proceeds of approximately $6.2 million from the exercise of the Series A Warrants. The Series A Warrants have been registered pursuant to a registration statement on Form S-1 and were issued pursuant to an Underwriting Agreement, dated as of February 4, 2022. The Series C Warrants and the shares underlying the Series C Warrants are unregistered and are being issued in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933 (the “Securities Act”).

Over the last 12 months, RMED stock dropped by -94.75%. The one-year Ra Medical Systems Inc. stock forecast points to a potential upside of 97.25. The average equity rating for RMED stock is currently 1.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $12.50 million, with 20.04 million shares outstanding. Compared to the average trading volume of 4.49M shares, RMED stock reached a trading volume of 11046310 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 1.50. 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 0.05, with the Price to Sales ratio for RMED stock in the period of the last 12 months amounting to 568.25. The Price to Book ratio for the last quarter was 0.20, with the Price to Cash per share for the same quarter was set at 0.25.

RMED Stock Performance Analysis:

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 -49.06. With this latest performance, RMED shares dropped by -41.68% in over the last four-week period, additionally sinking by -83.30% over the last 6 months – not to mention a drop of -94.75% 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 28.83, with the RSI for the last a single of trading hit 22.76, and the three-weeks RSI is set at 33.00 for Ra Medical Systems Inc. [RMED]. The present Moving Average for the last 50 days of trading for this stock 0.3136, while it was recorded at 0.2792 for the last single week of trading, and 1.0927 for the last 200 days.

Insight into Ra Medical Systems Inc. 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 5.10 and a Current Ratio set at 5.40.

Ra Medical Systems Inc. [RMED] Insider Position Details

There are presently around $0 million, or 3.40% of RMED stock, in the hands of institutional investors. The top three institutional holders of RMED stocks are: VANGUARD GROUP INC with ownership of 338,495, which is approximately 125.833% of the company’s market cap and around 0.30% of the total institutional ownership; VIRTU FINANCIAL LLC, holding 193,677 shares of the stock with an approximate value of $34000.0 in RMED stocks shares; and AVANTAX PLANNING PARTNERS, INC., currently with $14000.0 in RMED stock with ownership of nearly 333.333% of the company’s market capitalization.

Positions in Ra Medical Systems Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 15 institutional holders increased their position in Ra Medical Systems Inc. [AMEX:RMED] by around 706,169 shares. Additionally, 10 investors decreased positions by around 277,276 shares, while 8 investors held positions by with 122,970 shares. The mentioned changes placed institutional holdings at 1,106,415 shares, according to the latest SEC report filing. RMED stock had 10 new institutional investments in for a total of 289,620 shares, while 7 institutional investors sold positions of 275,424 shares during the same period.