Thomas J. Shaw, the President and CEO of Retractable Technologies Inc. (NYSE:RVP), has increased his stake in the company with a purchase of 11,441 shares of common stock. The acquisition, executed on October 24, 2024, was made at an average price of $0.715 per share, amounting to a total transaction value of approximately $8,180.
Following this transaction, Shaw directly owns 14,806,235 shares of Retractable Technologies. Additionally, he holds indirect ownership of 831,600 shares, with investment power over 500,000 shares as a trustee for a family member and voting control over the remaining shares through a voting agreement.
This transaction was conducted under a Rule 10b5-1 trading plan, which was adopted on August 22, 2023.
InvestingPro Insights
Thomas J. Shaw's recent purchase of Retractable Technologies Inc. (NYSE:RVP) shares comes at a time when the company is facing some financial challenges. According to InvestingPro data, RVP's revenue for the last twelve months as of Q2 2024 stood at $38.25 million, reflecting a significant decline of 30.08% compared to the previous period. This downward trend is also evident in the quarterly revenue growth, which decreased by 24.36% in Q2 2024.
Despite these headwinds, Shaw's increased stake in the company may signal confidence in RVP's future prospects. 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, investors should note that RVP has not been profitable over the last twelve months, with an operating income margin of -32.58%. The stock price has also fallen significantly over the last three months, with a total return of -37.61% during this period.
For those interested in a deeper analysis, InvestingPro offers 6 additional tips for RVP, providing a more comprehensive view of the company's financial health and market position. These insights could be particularly valuable given the stock's recent volatility and the company's current financial performance.
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