RA Medical Systems Inc (NYSE:RMED)’s stock price traded down 57.1% during trading on Tuesday . The company traded as low as $1.09 and last traded at $1.21, 897,085 shares traded hands during mid-day trading. An increase of 1,035% from the average session volume of 79,056 shares. The stock had previously closed at $2.82.

A number of equities research analysts have commented on the company. Maxim Group reduced their target price on RA Medical Systems to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Piper Jaffray Companies cut RA Medical Systems from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $9.00 to $1.50 in a research note on Tuesday. Cantor Fitzgerald cut RA Medical Systems from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $10.00 to $2.00 in a research note on Tuesday. Finally, Zacks Investment Research raised RA Medical Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $6.38.

The firm has a market capitalization of $35.26 million and a P/E ratio of -0.36. The company has a quick ratio of 11.45, a current ratio of 11.89 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average price of $3.04.

RA Medical Systems (NYSE:RMED) last posted its earnings results on Monday, May 13th. The company reported ($1.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.78). The firm had revenue of $1.75 million during the quarter, compared to analyst estimates of $1.22 million. Research analysts anticipate that RA Medical Systems Inc will post -3.69 EPS for the current fiscal year.

In other RA Medical Systems news, insider Dean Irwin sold 22,886 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $2.93, for a total transaction of $67,055.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey J. Kraws sold 18,021 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $3.08, for a total value of $55,504.68. The disclosure for this sale can be found here. Insiders sold a total of 57,841 shares of company stock valued at $176,959 over the last three months. Company insiders own 25.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in RA Medical Systems by 94.2% in 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 in the last quarter. Weil Company Inc. purchased a new position in RA Medical Systems during the 2nd quarter worth approximately $63,000. Envestnet Asset Management Inc. purchased a new position in RA Medical Systems during the 2nd quarter worth approximately $45,000. Dowling & Yahnke LLC purchased a new position in RA Medical Systems during the 2nd quarter worth approximately $110,000. Finally, Meitav Dash Investments Ltd. grew its position in RA Medical Systems by 18.8% during the 1st quarter. Meitav Dash Investments Ltd. now owns 118,260 shares of the company’s stock worth $415,000 after purchasing an additional 18,741 shares in the last quarter. Institutional investors own 20.13% of the company’s stock.

About RA Medical Systems (NYSE:RMED)

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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