RA Medical Systems Inc (NYSE:RMED) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totalling 133,300 shares, a decrease of 10.1% from the December 15th total of 148,300 shares. Currently, 2.0% of the shares of the stock are sold short. Based on an average daily volume of 63,100 shares, the days-to-cover ratio is presently 2.1 days.

RMED traded up $0.02 during midday trading on Tuesday, hitting $1.57. The stock had a trading volume of 8,600 shares, compared to its average volume of 47,233. RA Medical Systems has a 1 year low of $0.69 and a 1 year high of $10.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.37 and a current ratio of 5.69. The business has a fifty day moving average of $1.13 and a 200 day moving average of $1.78. The company has a market cap of $20.79 million, a P/E ratio of -0.47 and a beta of 2.07.

RA Medical Systems (NYSE:RMED) last issued its earnings results on Friday, November 29th. The company reported ($1.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.80). RA Medical Systems had a negative return on equity of 112.93% and a negative net margin of 797.11%. The business had revenue of $1.91 million during the quarter, compared to analysts’ expectations of $2.08 million. On average, equities research analysts anticipate that RA Medical Systems will post -4.81 earnings per share for the current year.

In other RA Medical Systems news, major shareholder Martin Burstein sold 28,988 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $1.06, for a total value of $30,727.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 58,732 shares of company stock worth $54,395 over the last quarter. Corporate insiders own 25.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bourne Lent Asset Management Inc. purchased a new position in shares of RA Medical Systems in the third quarter valued at about $70,000. FNY Investment Advisers LLC purchased a new stake in shares of RA Medical Systems during the third quarter worth about $58,000. Envestnet Asset Management Inc. purchased a new stake in shares of RA Medical Systems during the second quarter worth about $45,000. Finally, BlackRock Inc. boosted its holdings in shares of RA Medical Systems by 94.2% during the second quarter. BlackRock Inc. now owns 22,438 shares of the company’s stock worth $81,000 after purchasing an additional 10,883 shares during the period. 17.48% of the stock is currently owned by institutional investors.

A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of RA Medical Systems from a “hold” rating to a “sell” rating in a report on Thursday, December 5th. Maxim Group reaffirmed a “buy” rating and set a $3.00 price objective on shares of RA Medical Systems in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. RA Medical Systems currently has an average rating of “Hold” and an average price target of $4.13.

About RA Medical Systems

Ra Medical Systems, Inc, a commercial-stage medical device company, develops, manufactures, and markets excimer lasers for use in the treatment of vascular and dermatological diseases. The company offers DABRA (destruction of arteriosclerotic blockages by laser radiation ablation), a minimally-invasive excimer laser and disposable catheter system that is used by physicians in the endovascular treatment of vascular blockages resulting from lower extremity vascular disease.

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