Better Times Ahead For Ra Medical Systems Inc. (NYSE: RMED)?


Armistice Capital LLC has recently announced that it has increased stake in Ra Medical Systems Inc. (NYSE:RMED) by 111.18%. After grabbing 3.81 million shares, the institutional investor is now in possession of 2.0 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 5.49% having worth around $1.11 million. Moreover, Renaissance Technologies LLC increased its share by 0.87 million to have a control over 0.87 million shares. And Royce & Associates LP raised its holdings to 0.11 million shares by acquiring 0.51 million shares or 0.73% of the stake.

Ra Medical Systems Inc. (RMED) concluded trading on 08/26/20 at a closing price of $0.34, with 6.47 million shares of worth about $2.2 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -2.30% during that period and on Wednesday the price saw a loss of about -4.28%. Currently the company’s common shares owned by public are about 72.47M shares, out of which, 58.71M shares are available for trading.

Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $1.00 and could fall to a lowest price of $0.50. Analysts also issued an outlook of 2.50 for the Ra Medical Systems Inc. stock for next 12 months. However, touching the estimated high of $1.00 would mean a gain of 66.0% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 36 times over the past 12 months. They bought 394,687 shares in 15 of the transactions. In 21 selling transactions, insiders dumped 424,557 shares.

Royce Opportunity Fund, Principal Investors – Small Cap F, and Legg Mason Global Funds Plc – Roy are the top 3 mutual funds which are holding stakes in Ra Medical Systems Inc. Royce Opportunity Fund is currently holding 0.19 million shares of worth totaling $54552.0. The company recently came buying 46450.0 shares which brought its stake up to 0.39% of the company’s outstanding shares. Legg Mason Global Funds Plc – Roy, after buying 0.12 million shares, have now control over 0.26% of the stake in the company. It holds 20600.0 shares of worth $36040.0.

Ra Medical Systems Inc. (NYSE: RMED) started trading at $0.3503, below -$0.01 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $0.34, or with a loss of -4.28%. Stock saw a price change of -2.30% in past 5 days and over the past one month there was a price change of -5.58%. Year-to-date (YTD), RMED shares are showing a performance of -69.91% which decreased to -79.39% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.28 but also hit the highest price of $2.69 during that period. While comparing its average daily trading volume of 6.23 million shares, we see that about 6.47 million changed hands on the day. The stock is currently trading 5.32% above its 20-day simple moving average (SMA20), while that difference is down -17.79% for SMA50 and it goes to -67.65% lower than SMA200.

Armistice Capital LLC acquired 3.81 million shares of Ra Medical Systems Inc. having value of about $1.11 million. Data submitted at the U.S SEC by Armistice Capital LLC revealed that the firm now holds 2.0 million shares in the company valued at close to $681301.18, or have control over 111.18% stake in the company. Ra Medical Systems Inc. (NYSE: RMED) currently have 72.47M outstanding shares and institutions hold larger chunk of about 7.80% of that. Holding of mutual funds in the company is about 7.88% while other institutional holders and individual stake holders have control over 9.36% and 1.61% of the stake respectively.

The stock has a current market capitalization of $22.76M. It has posted earnings per share of -$3.01 in the same period. It has Quick Ratio of 3.70 while making debt-to-equity ratio of 0.09. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RMED, volatility over the week remained 13.10% while standing at 12.24% over the month.

Analysts are in expectations that Ra Medical Systems Inc. (RMED) stock would likely to be making an EPS of -$0.13 in the current quarter, while forecast for next quarter ESPS is -$0.11 and it is -$0.41 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.13 which is -$0.12 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$1.3 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -29.70% while it is estimated to increase by 59.00% in next year.

Analysts at 2 brokerage firms have issued recommendations for the Ra Medical Systems Inc. (RMED)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 2 Wall Street analysts, 1 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Piper Jaffray on August 13, 2019 offering a Neutral rating for the stock and assigned a target price range of between $9 and $1.50 to it. Coverage by Maxim Group stated Ra Medical Systems Inc. (RMED) stock as a Buy in their note to investors on November 02, 2018, suggesting a price target of $23 for the stock.


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