RA Medical Systems Inc (NYSE:RMED) Short Interest Update

RA Medical Systems Inc (NYSE:RMED) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 2,660,000 shares, an increase of 50.3% from the August 15th total of 1,770,000 shares. Based on an average daily volume of 5,960,000 shares, the days-to-cover ratio is presently 0.4 days.

A hedge fund recently bought a new stake in RA Medical Systems stock. Two Sigma Advisers LP purchased a new stake in shares of RA Medical Systems Inc (NYSE:RMED) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 203,600 shares of the company’s stock, valued at approximately $100,000. Two Sigma Advisers LP owned 0.28% of RA Medical Systems at the end of the most recent reporting period. Hedge funds and other institutional investors own 5.12% of the company’s stock.

RMED stock traded up $0.01 during midday trading on Wednesday, hitting $0.27. The company’s stock had a trading volume of 74,614 shares, compared to its average volume of 3,101,137. The company has a market cap of $18.62 million, a PE ratio of -0.09 and a beta of 1.17. RA Medical Systems has a 12 month low of $0.23 and a 12 month high of $2.69. The company has a current ratio of 4.07, a quick ratio of 3.74 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average is $0.31 and its 200-day moving average is $0.72.

RA Medical Systems (NYSE:RMED) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.21). RA Medical Systems had a negative net margin of 807.30% and a negative return on equity of 140.19%. Analysts expect that RA Medical Systems will post -0.78 earnings per share for the current year.

A number of analysts have recently commented on the company. Maxim Group reissued a “buy” rating and issued a $2.00 price target on shares of RA Medical Systems in a research report on Friday, June 12th. ValuEngine cut RA Medical Systems from a “buy” rating to a “hold” rating in a research report on Thursday, July 30th. Piper Sandler lowered their price objective on RA Medical Systems to $1.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Finally, Zacks Investment Research raised RA Medical Systems from a “hold” rating to a “buy” rating and set a $0.25 price objective on the stock in a research report on Saturday, August 29th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $1.19.

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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