Ra Medical Systems Inc. [RMED] Revenue clocked in at $0.02 million, down -91.35% YTD: What’s Next?

Ra Medical Systems Inc. [AMEX: RMED] price surged by 17.39 percent to reach at $0.02. The company report on September 27, 2022 that Catheter Precision Names Fatih Ayoglu as Business Development Manager—EMEA.


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Catheter Precision, Inc., a medical device and technology company focused on cardiac electrophysiology, announces the appointment of Fatih Ayoglu to the newly created position of Business Development Manager—EMEA. Mr. Ayoglu will oversee clinical and sales development of Catheter Precision products in Europe, the Middle East and Africa and will report to Chief Commercial Officer Patricia Kennedy. On September 12, 2022 privately held Catheter Precision announced a definitive merger agreement with Ra Medical Systems (NYSE American: RMED) (“Ra Medical Systems” or the “Company”), which, if completed, will result in a combined publicly traded company focusing on the cardiac electrophysiology market.

“Fatih’s impressive success in sales and clinical development at major medical device companies with a specific focus on cardiac electrophysiology makes him ideal for this position,” said David Jenkins, Catheter Precision CEO. “We look forward to drawing on his expertise to support our overall business and product development goals, as well as his extensive industry knowledge and contacts to broaden our global footprint, including a planned expansion into the Middle East in the first half of 2023.”.

A sum of 22374573 shares traded at recent session while its average daily volume was at 8.52M shares. Ra Medical Systems Inc. shares reached a high of $0.14 and dropped to a low of $0.11 until finishing in the latest session at $0.14.

The one-year RMED stock forecast points to a potential upside of 97.86. The average equity rating for RMED stock is currently 1.50, trading closer to a bullish pattern in the stock market.

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 0.02, with the Price to Sales ratio for RMED stock in the period of the last 12 months amounting to 313.96. The Price to Book ratio for the last quarter was 0.45, with the Price to Cash per share for the same quarter was set at 0.21.

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 -4.86. With this latest performance, RMED shares dropped by -10.12% in over the last four-week period, additionally sinking by -68.60% over the last 6 months – not to mention a drop of -95.97% 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 43.22, with the RSI for the last a single of trading hit 45.51, and the three-weeks RSI is set at 41.79 for Ra Medical Systems Inc. [RMED]. The present Moving Average for the last 50 days of trading for this stock 0.1699, while it was recorded at 0.1271 for the last single week of trading, and 0.5096 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 4.50 and a Current Ratio set at 4.50.

Ra Medical Systems Inc. [RMED] Insider Position Details

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 $11000.0 in RMED stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $10000.0 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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