Oil prices rise on talk of Russia sanctions; bouncing off recent lows
Thomas J. Shaw, the President and CEO of Retractable Technologies Inc . (NYSE:RVP), recently acquired additional shares of the company, according to a Form 4 filing with the Securities and Exchange Commission. The insider purchase comes as the stock trades near its 52-week low of $0.56, having declined nearly 40% over the past year according to InvestingPro data.
On March 28, Shaw purchased 9,911 shares at an average price of $0.7095 per share, followed by another acquisition of 14,093 shares on March 31 at an average price of $0.6903 per share. The total value of these transactions amounts to $16,760. The company maintains strong liquidity with a current ratio of 8.34, though it faces profitability challenges with negative earnings in the last twelve months.
Following these purchases, Shaw’s direct ownership of Retractable Technologies’ common stock increased to 15,150,722 shares. Additionally, Shaw holds indirect ownership of 831,600 shares, with investment control over 500,000 shares as a trustee for a family member and voting control over the remainder through a voting agreement.
These acquisitions were conducted under a pre-arranged trading plan, known as a Rule 10b5-1 Plan, which was adopted on August 22, 2024.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.