Rockwell Medical (NASDAQ:RMTI) Raised to Strong-Buy at RODMAN&RENSHAW

RODMAN&RENSHAW upgraded shares of Rockwell Medical (NASDAQ:RMTI - Free Report) to a strong-buy rating in a report released on Thursday,Zacks.com reports.

RMTI has been the subject of several other research reports. StockNews.com upgraded shares of Rockwell Medical from a "hold" rating to a "buy" rating in a research note on Wednesday. HC Wainwright reiterated a "buy" rating and set a $9.00 target price on shares of Rockwell Medical in a research note on Wednesday, September 11th. Finally, Rodman & Renshaw initiated coverage on shares of Rockwell Medical in a report on Thursday. They set a "buy" rating and a $5.00 price target for the company.

Rockwell Medical Stock Performance

NASDAQ RMTI traded down $0.14 during trading hours on Thursday, hitting $2.36. The company had a trading volume of 1,296,389 shares, compared to its average volume of 365,466. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.60 and a current ratio of 2.41. Rockwell Medical has a 1-year low of $1.16 and a 1-year high of $5.15. The company has a market cap of $76.11 million, a PE ratio of -47.20 and a beta of 1.50. The business has a 50 day moving average of $3.70 and a 200-day moving average of $2.60.

Rockwell Medical (NASDAQ:RMTI - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. Rockwell Medical had a negative net margin of 1.25% and a positive return on equity of 8.55%. The business had revenue of $28.32 million during the quarter, compared to the consensus estimate of $25.99 million. As a group, equities research analysts expect that Rockwell Medical will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC purchased a new position in Rockwell Medical in the third quarter valued at about $40,000. Verus Capital Partners LLC purchased a new position in Rockwell Medical in the third quarter valued at about $51,000. Beacon Financial Advisory LLC purchased a new position in Rockwell Medical in the third quarter valued at about $98,000. XTX Topco Ltd increased its holdings in Rockwell Medical by 45.7% in the third quarter. XTX Topco Ltd now owns 28,455 shares of the company's stock valued at $113,000 after buying an additional 8,922 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Rockwell Medical by 877.1% in the second quarter. Renaissance Technologies LLC now owns 102,700 shares of the company's stock valued at $181,000 after buying an additional 92,189 shares in the last quarter. 23.31% of the stock is owned by hedge funds and other institutional investors.

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.