For Ra Medical Systems Inc. [RMED], Analyst sees a drop to $1.50. What next?

Ra Medical Systems Inc. [AMEX: RMED] jumped around 0.0 points on Wednesday, while shares priced at $0.17 at the close of the session, up 3.45%. The company report on August 1, 2022 that Ra Medical Systems Provides Update on its Annual Filings.

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Ra Medical Systems, Inc. (NYSE American: RMED) (“Ra Medical” or the “Company) announces that its audited consolidated financial statements for the fiscal year ended December 31, 2021 included in the Company’s Form 10-K filed with the Securities and Exchange Commission (SEC) on March 24, 2022 and Amended Form 10-K/A filed with the SEC on July 7, 2022 contained an audit report from its independent registered public accounting firm which included a going concern emphasis of matter paragraph. Release of this information is required by Section 610(b) of the NYSE American Company Guide. It does not represent any change or amendment to any of the Company’s filings for the fiscal year ended December 31, 2021.

Ra Medical Systems Inc. stock is now -88.85% down from its year-to-date (YTD) trading value. RMED Stock saw the intraday high of $0.19 and lowest of $0.17 per share. The company’s 52-week high price is 3.65, which means current price is +13.59% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 5.05M shares, RMED reached a trading volume of 3651565 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 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 0.04, with the Price to Sales ratio for RMED stock in the period of the last 12 months amounting to 211.26. The Price to Book ratio for the last quarter was 0.19, with the Price to Cash per share for the same quarter was set at 0.54.

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 3.51. With this latest performance, RMED shares dropped by -50.58% in over the last four-week period, additionally sinking by -53.19% over the last 6 months – not to mention a drop of -94.65% 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 35.06, with the RSI for the last a single of trading hit 34.55, and the three-weeks RSI is set at 36.63 for Ra Medical Systems Inc. [RMED]. The present Moving Average for the last 50 days of trading for this stock 0.2860, while it was recorded at 0.1821 for the last single week of trading, and 0.9157 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 5.10 and a Current Ratio set at 5.40.

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

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; AVANTAX PLANNING PARTNERS, INC., holding 78,000 shares of the stock with an approximate value of $14000.0 in RMED stocks shares; and DOWLING & YAHNKE LLC, currently with $12000.0 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 August and at the time of the August reporting period, where 9 institutional holders increased their position in Ra Medical Systems Inc. [AMEX:RMED] by around 362,140 shares. Additionally, 11 investors decreased positions by around 452,544 shares, while 12 investors held positions by with 80,283 shares. The mentioned changes placed institutional holdings at 894,967 shares, according to the latest SEC report filing. RMED stock had 6 new institutional investments in for a total of 113,318 shares, while 6 institutional investors sold positions of 239,404 shares during the same period.


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