Ra Medical Systems Inc. (RMED) Testing Investors’ Patience Right Now

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    Armistice Capital LLC recently announced the acquisition of new stake in Ra Medical Systems Inc. (NYSE:RMED). This fresh investment now brings its stake to 4.99% valued currently at $0.89 million. In addition, Royce & Associates LP raised its holdings by 0.1 million to 0.4 million shares. And Bourne Lent Asset Management, Inc… has lifted its position by 18.18% or 32500.0 shares – to 0.21 million shares.

    With over 1.02 million Ra Medical Systems Inc. (RMED) shares trading Friday and a closing price of $0.39 on the day, the dollar volume was approximately $0.4 million. The shares have shown a negative weekly performance of -2.30% and its price on 07/24/20 lost nearly -0.90%. Currently, there are 13.77M common shares owned by the public and among those 9.66M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for RMED have a consensus price objective of $1.50. The analysts have set the share’s price value over the next 12 months at a high of $2.00 and a low of $1.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Ra Medical Systems Inc. stock is 2.50 for the next 12 months. But an upside of 80.5% will see the stock hit the forecast high price target while mean target price for the stock is $1.50.

    Insiders at the company have transacted a total of 34 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 12 of these insider trades were purchases, accounting for 431,703 shares. Insider sales of the common stock occurred on 22 occasions, with total insider shares sold totaling 501,573 shares.

    The top 3 mutual fund holders in Ra Medical Systems Inc. are Principal Investors – Small Cap F, Royce Opportunity Fund, and Legg Mason Global Funds Plc – Roy. Principal Investors – Small Cap F owns 0.23 million shares of the company’s stock, all valued at over $0.11 million. Royce Opportunity Fund bought 46450.0 shares to see its total holdings expand to 0.19 million shares valued at over $92104.0 and representing 0.52% of the shares outstanding. Legg Mason Global Funds Plc – Roy bought 21337.0 shares to bring its total holdings to over 0.1 million shares at a value of $50692.0. Legg Mason Global Funds Plc – Roy now owns shares totaling to 0.28% of the shares outstanding.

    Shares of Ra Medical Systems Inc. (NYSE: RMED) opened at $0.40, up $0.01 from a prior closing price of $0.39. However, the script later closed the day at $0.39, down -0.90%. The company’s stock has a 5-day price change of -2.30% and -61.39% over the past three months. RMED shares are trading -65.83% year to date (YTD), with the 12-month market performance down to -85.96% lower. It has a 12-month low price of $0.34 and touched a high of $2.96 over the same period. Currently, 1.02 million shares have been traded, compared to an average intraday trading volume of 3.88 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -13.91%, -28.04%, and -67.17% respectively.

    Institutional ownership of Ra Medical Systems Inc. (NYSE: RMED) shares accounts for 10.90% of the company’s 13.77M shares outstanding. Mutual fund holders own 2.38%, while other institutional holders and individual stakeholders account for 8.16% and 15.02% respectively.

    It has a market capitalization of $15.54M. The earnings-per-share (ttm) stands at -$3.75. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.95% over the week and 8.19% over the month.

    Analysts forecast that Ra Medical Systems Inc. (RMED) will achieve an EPS of -$0.34 for the current quarter, -$0.18 for the next quarter and -$0.53 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.4 while analysts give the company a high EPS estimate of -$0.28. Comparatively, EPS for the current quarter was -$1.16 a year ago. Earnings per share for the fiscal year are expected to decrease by -29.70%, and 53.50% over the next financial year.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Ra Medical Systems Inc. (RMED) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 1 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the RMED, a number of firms have released research notes about the stock. Piper Jaffray stated their Neutral rating for the stock in a research note on August 13, 2019, with the firm’s price target at $9-$1.50. Maxim Group coverage for the Ra Medical Systems Inc. (RMED) stock in a research note released on November 02, 2018 offered a Buy rating with a price target of $23.

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