HC Wainwright reaffirmed their buy rating on shares of Rockwell Medical (NASDAQ:RMTI - Free Report) in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a $9.00 target price on the stock.
Separately, StockNews.com raised Rockwell Medical from a sell rating to a hold rating in a report on Wednesday, June 19th.
View Our Latest Stock Report on RMTI
Rockwell Medical Price Performance
NASDAQ RMTI traded down $0.11 during trading hours on Wednesday, reaching $3.13. The company's stock had a trading volume of 518,879 shares, compared to its average volume of 230,065. Rockwell Medical has a 1 year low of $1.16 and a 1 year high of $3.43. The company has a quick ratio of 1.60, a current ratio of 2.00 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $97.12 million, a price-to-earnings ratio of -8.78 and a beta of 1.46. The firm's 50-day moving average price is $2.21 and its 200-day moving average price is $1.83.
Rockwell Medical (NASDAQ:RMTI - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.05. The firm had revenue of $25.83 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned ($0.18) earnings per share. On average, equities research analysts predict that Rockwell Medical will post -0.03 EPS for the current fiscal year.
Institutional Investors Weigh In On Rockwell Medical
Several hedge funds and other institutional investors have recently made changes to their positions in RMTI. SkyOak Wealth LLC lifted its stake in shares of Rockwell Medical by 47.3% during the 1st quarter. SkyOak Wealth LLC now owns 25,110 shares of the company's stock worth $42,000 after acquiring an additional 8,065 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Rockwell Medical by 877.1% during the second 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 period. Vanguard Group Inc. increased 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 worth $1,856,000 after buying an additional 43,302 shares during the period. Finally, Armistice Capital LLC lifted its holdings in Rockwell Medical by 22.5% during the 2nd quarter. Armistice Capital LLC now owns 3,221,640 shares of the company's stock valued at $5,670,000 after buying an additional 592,000 shares in the last quarter. Hedge funds and other institutional investors own 23.31% of the company's stock.
Rockwell Medical Company Profile
(
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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.
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