Rockwell Medical (NASDAQ:RMTI) Share Price Passes Above 200-Day Moving Average of $1.77

Shares of Rockwell Medical, Inc. (NASDAQ:RMTI - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.77 and traded as high as $3.11. Rockwell Medical shares last traded at $3.07, with a volume of 399,935 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RMTI shares. HC Wainwright reiterated a "buy" rating and issued a $9.00 price target on shares of Rockwell Medical in a research note on Monday, August 12th. StockNews.com upgraded shares of Rockwell Medical from a "sell" rating to a "hold" rating in a research note on Wednesday, June 19th.

Rockwell Medical Stock Down 1.3 %

The company has a market capitalization of $91.86 million, a price-to-earnings ratio of -8.42 and a beta of 1.43. The firm's 50 day moving average price is $2.11 and its two-hundred day moving average price is $1.78. The company has a current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.41.

Rockwell Medical (NASDAQ:RMTI - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.05. The company had revenue of $25.83 million for the quarter, compared to analyst estimates of $23.01 million. Rockwell Medical had a negative net margin of 5.06% and a negative return on equity of 6.96%. During the same period in the previous year, the business earned ($0.18) EPS. Sell-side analysts anticipate that Rockwell Medical, Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Trading of Rockwell Medical

A number of institutional investors and hedge funds have recently made changes to their positions in the company. SkyOak Wealth LLC lifted its stake in Rockwell Medical by 47.3% in the 1st quarter. SkyOak Wealth LLC now owns 25,110 shares of the company's stock valued at $42,000 after purchasing an additional 8,065 shares during the last quarter. WealthTrust Axiom LLC lifted its stake in Rockwell Medical by 49.3% in the 4th quarter. WealthTrust Axiom LLC now owns 31,500 shares of the company's stock valued at $60,000 after purchasing an additional 10,400 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Rockwell Medical by 877.1% in the 2nd quarter. Renaissance Technologies LLC now owns 102,700 shares of the company's stock valued at $181,000 after purchasing an additional 92,189 shares during the last quarter. Vanguard Group Inc. lifted its stake in Rockwell Medical by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company's stock valued at $1,856,000 after purchasing an additional 43,302 shares during the last quarter. Finally, Armistice Capital LLC increased its position in Rockwell Medical by 22.5% in the 2nd quarter. Armistice Capital LLC now owns 3,221,640 shares of the company's stock valued at $5,670,000 after acquiring an additional 592,000 shares during the period. Institutional investors own 23.31% of the company's stock.

About Rockwell Medical

Rockwell Medical, Inc, together with its subsidiaries, operates as a healthcare company that engages in the development, manufacture, commercialization, and distribution of various hemodialysis products for dialysis providers worldwide. The company offers Triferic Dialysate and Triferic AVNU which are indicated to maintain hemoglobin in adult undergoing hemodialysis.