Piper Jaffray slashes price target on Ra Medical Systems Inc. [RMED] – find out why.

Ra Medical Systems Inc. [AMEX: RMED] surged by $0.01 during the normal trading session on Thursday and reaching a high of $0.16 during the day while it closed the day at $0.16. The company report on August 15, 2022 that Ra Medical Systems Reports Second Quarter 2022 Financial Results.

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Ra Medical Systems, Inc. (NYSE American: RMED) (“Ra Medical” or the “Company”) reports financial results for the three and six months ended June 30, 2022 and provides a business update.

“We are continuing to pursue a potential merger with a privately held company, Catheter Precision, Inc., (“Catheter Precision”) which would give our shareholders exposure to Catheter Precision’s innovative medical devices to improve the treatment of cardiac arrhythmias while allowing the combined company to explore funding for the Catheter Precision devices through the public capital markets,” said Ra Medical CEO Will McGuire. “Although consummating the merger with Catheter Precision is our priority, our board of directors continues to review other strategic alternatives that could result in changes to our business strategy and future operations, with a goal of maximizing shareholder value.”.

Ra Medical Systems Inc. stock has also loss -6.06% of its value over the past 7 days. However, RMED stock has declined by -45.99% in the 3 months of the year. Over the past six months meanwhile, it has lost -56.31% and lost -90.06% year-on date.

The market cap for RMED stock reached $8.61 million, with 55.56 million shares outstanding and 31.86 million shares in the current float. Compared to the average trading volume of 5.29M shares, RMED reached a trading volume of 1805011 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]:

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 0.02, with the Price to Sales ratio for RMED stock in the period of the last 12 months amounting to 318.96. The Price to Book ratio for the last quarter was 0.05, with the Price to Cash per share for the same quarter was set at 0.20.

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 -6.06. With this latest performance, RMED shares dropped by -9.99% in over the last four-week period, additionally sinking by -56.31% over the last 6 months – not to mention a drop of -94.88% 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 35.99, with the RSI for the last a single of trading hit 37.00, and the three-weeks RSI is set at 36.78 for Ra Medical Systems Inc. [RMED]. The present Moving Average for the last 50 days of trading for this stock 0.2518, while it was recorded at 0.1515 for the last single week of trading, and 0.7572 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 -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 4.50 and a Current Ratio set at 4.50.

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

There are presently around $0 million, or 1.50% 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 0% of the company’s market cap and around 0.20% of the total institutional ownership; AVANTAX PLANNING PARTNERS, INC., holding 78,000 shares of the stock with an approximate value of $12000.0 in RMED stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $11000.0 in RMED stock with ownership of nearly 75.245% 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 6 institutional holders increased their position in Ra Medical Systems Inc. [AMEX:RMED] by around 124,864 shares. Additionally, 11 investors decreased positions by around 351,267 shares, while 11 investors held positions by with 355,315 shares. The mentioned changes placed institutional holdings at 831,446 shares, according to the latest SEC report filing. RMED stock had 1 new institutional investments in for a total of 11,997 shares, while 6 institutional investors sold positions of 95,794 shares during the same period.


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