Buy gold, crypto and China, tread carefully on rich U.S. tech: BofA’s Hartnett
Thomas J. Shaw, the President and CEO of Retractable Technologies Inc . (NYSE:RVP), acquired 19,769 shares of the company’s common stock on June 13, 2025. The shares were purchased at an average price of $0.6583 per share, amounting to a total transaction value of approximately $13,013. The purchase comes as the company, currently valued at $20.6 million, trades at just 0.27 times its book value, suggesting potential undervaluation according to InvestingPro analysis. Following this acquisition, Shaw directly owns 15,418,986 shares of Retractable Technologies. Additionally, he holds indirect ownership of 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 acquisition was made under a Rule 10b5-1 Plan adopted on August 22, 2024. While the company maintains strong liquidity with a current ratio of 6.7 and more cash than debt on its balance sheet, InvestingPro data reveals it’s currently experiencing accelerated cash burn and profitability challenges.
In other recent news, Retractable Technologies Inc. has announced a change in its independent registered public accounting firm following a merger involving its previous auditor. The company reported that Moss Adams LLP, its former independent auditor, has merged with Baker Tilly US, LLP. As a result of this merger, Moss Adams resigned, and the Audit Committee of Retractable Technologies’ Board of Directors approved the appointment of Baker Tilly as the new independent registered public accounting firm. The audit reports provided by Moss Adams for the fiscal years ending December 31, 2023, and 2024, as well as for the three-year period ending December 31, 2024, were not subject to any adverse opinions or disclaimers. There were no modifications regarding uncertainty, audit scope, or accounting principles. During the specified periods, there were no disagreements between Retractable Technologies and Moss Adams concerning accounting principles, financial statement disclosures, or auditing procedures. Retractable Technologies also clarified that there were no consultations with Baker Tilly on accounting principles related to specific transactions or the type of audit opinion that might be rendered on the company’s financial statements. Additionally, no consultations occurred regarding any disagreements or reportable events as defined by Regulation S-K.
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