Thomas J. Shaw, the President and CEO of Retractable Technologies Inc. (AMEX:RVP), has recently acquired 601 shares of the company's common stock, according to a recent SEC filing. The purchase was made on October 30, 2024, at a weighted average price of $0.714 per share, totaling approximately $429.
Following this transaction, Shaw holds a direct ownership of 14,806,836 shares. Additionally, he maintains indirect control over 831,600 shares, with 500,000 of these shares held in trust for a family member, and the remainder under a voting agreement. This acquisition is part of a Rule 10b5-1 trading plan adopted on August 22, 2023.
InvestingPro Insights
Thomas J. Shaw's recent acquisition 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, marking a substantial 30.08% decline. This downward trend is further emphasized by a 24.36% quarterly revenue drop 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, suggesting a degree of financial stability. However, the company is not currently profitable, with an operating income of -$12.46 million over the last twelve months.
The stock's performance has been volatile, with a 33.79% price decline over the past year. This volatility aligns with an InvestingPro Tip noting that RVP's stock price movements are quite volatile, which could explain Shaw's decision to acquire shares under a pre-planned trading arrangement.
For investors seeking a more comprehensive analysis, InvestingPro offers 6 additional tips for RVP, providing deeper insights into the company's financial health and market position.
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