Rodman & Renshaw Begins Coverage on Rockwell Medical (NASDAQ:RMTI)

Analysts at Rodman & Renshaw began coverage on shares of Rockwell Medical (NASDAQ:RMTI - Get Free Report) in a research note issued on Thursday, MarketBeat.com reports. The brokerage set a "buy" rating and a $5.00 price target on the stock. Rodman & Renshaw's price target points to a potential upside of 100.00% from the company's current price.

A number of other equities analysts have also recently weighed in on the stock. StockNews.com raised shares of Rockwell Medical from a "hold" rating to a "buy" rating in a research report on Wednesday. HC Wainwright reiterated a "buy" rating and issued a $9.00 price objective on shares of Rockwell Medical in a research report on Wednesday, September 11th.

Rockwell Medical Trading Down 4.9 %

Rockwell Medical stock traded down $0.13 during trading hours on Thursday, reaching $2.50. 1,567,198 shares of the company's stock traded hands, compared to its average volume of 359,337. The firm has a market capitalization of $77.58 million, a price-to-earnings ratio of -51.20 and a beta of 1.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.60 and a current ratio of 2.00. Rockwell Medical has a fifty-two week low of $1.16 and a fifty-two week high of $5.15. The firm's 50 day moving average is $3.71 and its 200-day moving average is $2.60.

Rockwell Medical (NASDAQ:RMTI - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.04. The firm had revenue of $28.32 million for the quarter, compared to analysts' expectations of $25.99 million. Rockwell Medical had a negative net margin of 1.25% and a positive return on equity of 9.27%. On average, analysts predict that Rockwell Medical will post -0.03 earnings per share for the current year.

Institutional Trading of Rockwell Medical

Several hedge funds and other institutional investors have recently modified their holdings of RMTI. Armistice Capital LLC grew its holdings in shares of 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 in the last quarter. Walleye Capital LLC bought a new position in Rockwell Medical during the third quarter worth about $435,000. Renaissance Technologies LLC grew its holdings in Rockwell Medical by 877.1% during the second quarter. Renaissance Technologies LLC now owns 102,700 shares of the company's stock worth $181,000 after purchasing an additional 92,189 shares during the period. Corsair Capital Management L.P. bought a new position in Rockwell Medical during the third quarter worth about $298,000. Finally, Vanguard Group Inc. grew its holdings in Rockwell Medical by 4.0% during the first quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company's stock worth $1,856,000 after purchasing an additional 43,302 shares during the period. Institutional investors and hedge funds 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.