Thomas J. Shaw, President and CEO of Retractable Technologies Inc. (AMEX:RVP), recently purchased 9,658 shares of the company's common stock. The acquisition was made on November 11 at a weighted average price of $0.712 per share, amounting to a total transaction value of $6,876. Following this transaction, Shaw directly owns 14,825,151 shares.
In addition to his direct holdings, Shaw maintains investment power over 500,000 shares as a trustee for a family member and has voting control over additional shares through a voting agreement. This transaction was part of a pre-established Rule 10b5-1 trading plan, adopted on August 22, 2023.
InvestingPro Insights
Thomas J. Shaw's recent purchase of Retractable Technologies Inc. (AMEX:RVP) shares comes at a time when the company is facing significant financial challenges. According to InvestingPro data, RVP's revenue for the last twelve months as of Q2 2024 stood at $38.25 million, representing a substantial decline of 30.08% compared to the previous period. This downward trend is further emphasized by the quarterly revenue growth of -24.36% in Q2 2024.
Despite these headwinds, InvestingPro Tips highlight that RVP operates with a moderate level of debt and its liquid assets exceed short-term obligations, which could provide some financial flexibility during this challenging period. However, the company is not currently profitable, with an operating income of -$12.46 million for the last twelve months.
The stock's performance has been volatile, with a one-year price total return of -29.53% as of the most recent data. This volatility is reflected in one of the InvestingPro Tips, which notes that RVP's stock price movements are quite volatile.
For investors seeking a more comprehensive analysis, InvestingPro offers 6 additional tips for RVP, providing a deeper understanding of the company's financial position and market performance. These insights could be particularly valuable given the CEO's recent share purchase and the company's current financial situation.
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