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Thomas J. Shaw, the President and CEO of Retractable Technologies Inc. (AMEX:RVP), recently purchased 8,104 shares of the company's common stock. The transaction, which took place on October 18, 2024, was executed at a weighted average price of $0.748 per share, amounting to a total of $6,061.
Following this acquisition, Shaw now directly owns 14,773,652 shares of Retractable Technologies. Additionally, he holds indirect control over 831,600 shares, with investment power over 500,000 of these shares as a trustee for a family member, and voting control over the remainder through a voting agreement.
The transaction was carried out under a Rule 10b5-1 trading plan, which was adopted on August 22, 2023.
InvestingPro Insights
In light of Thomas J. Shaw's recent stock purchase, it's worth examining some key financial metrics and insights for Retractable Technologies Inc. (AMEX:RVP). According to InvestingPro data, the company's revenue for the last twelve months as of Q2 2024 stood at $38.25 million, with a concerning year-over-year revenue decline of 30.08%. This downward trend is further emphasized by a 24.36% quarterly revenue decrease in Q2 2024.
Despite these challenging figures, InvestingPro Tips highlight that Retractable Technologies operates with a moderate level of debt and maintains liquid assets that exceed short-term obligations. These factors could provide some financial stability as the company navigates through its current revenue challenges.
It's noteworthy that the stock has experienced significant volatility, with a 32.14% price decline over the past three months. This volatility aligns with another InvestingPro Tip, which indicates that RVP's stock price movements are quite volatile. The CEO's recent purchase might be seen as a vote of confidence in the company's future prospects, despite the current market sentiment.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights that could shed light on Retractable Technologies' financial health and market position. Currently, there are 5 additional tips available on InvestingPro, which could provide valuable context to the company's situation beyond the scope of this article.
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