Thomas J. Shaw, President and CEO of Retractable Technologies Inc. (NYSE:RVP), recently acquired 8,657 shares of the company's common stock. The transaction, dated November 1, 2024, was executed at a weighted average price of $0.7079 per share, amounting to a total value of $6,128. Following this acquisition, Shaw directly owns 14,815,493 shares. 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 plan, which was adopted on August 22, 2023.
InvestingPro Insights
In light of Thomas J. Shaw's recent acquisition of Retractable Technologies Inc. (NYSE:RVP) shares, it's worth examining some key financial metrics and insights provided by InvestingPro.
According to InvestingPro data, RVP's revenue for the last twelve months as of Q2 2024 stood at $38.25 million, with a concerning revenue growth decline of -30.08% over the same period. This downward trend is further emphasized by the quarterly revenue growth of -24.36% in Q2 2024.
Despite these challenging figures, InvestingPro Tips highlight that RVP operates with a moderate level of debt and its liquid assets exceed short-term obligations. These factors could provide some financial stability during this period of revenue contraction.
However, it's important to note that RVP has not been profitable over the last twelve months, and does not pay a dividend to shareholders. An InvestingPro Tip also points out that the stock price movements are quite volatile, which aligns with the CEO's decision to acquire shares under a Rule 10b5-1 plan, potentially to avoid any perception of trading on inside information.
For investors seeking a more comprehensive analysis, InvestingPro offers 6 additional tips for RVP, providing a deeper understanding of the company's financial health and market position.
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