Rockwell Medical Inc (NASDAQ:RMTI)’s share price fell 28.6% during trading on Wednesday . The company traded as low as $1.13 and last traded at $1.20. 18,472,820 shares were traded during trading, an increase of 1,441% from the average session volume of 1,198,689 shares. The stock had previously closed at $1.68.
A number of brokerages have recently commented on RMTI. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Rockwell Medical in a research report on Tuesday, July 14th. Zacks Investment Research raised Rockwell Medical from a “sell” rating to a “buy” rating and set a $1.75 price objective for the company in a research report on Saturday, August 15th.
The company has a debt-to-equity ratio of 1.28, a current ratio of 4.48 and a quick ratio of 4.09. The stock has a 50 day simple moving average of $1.44 and a two-hundred day simple moving average of $1.95. The company has a market cap of $77.33 million, a PE ratio of -2.44 and a beta of 1.30.
Rockwell Medical (NASDAQ:RMTI) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.10) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.04. Rockwell Medical had a negative return on equity of 146.49% and a negative net margin of 47.94%. The company had revenue of $15.90 million during the quarter, compared to analysts’ expectations of $15.80 million. As a group, equities analysts anticipate that Rockwell Medical Inc will post -0.41 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in RMTI. Marshall Wace LLP acquired a new position in Rockwell Medical during the first quarter worth $57,000. Metropolitan Life Insurance Co NY acquired a new position in Rockwell Medical during the first quarter worth $106,000. BlackRock Inc. grew its holdings in Rockwell Medical by 1.4% during the first quarter. BlackRock Inc. now owns 4,254,934 shares of the company’s stock worth $8,723,000 after acquiring an additional 60,671 shares during the period. Bank of New York Mellon Corp grew its holdings in Rockwell Medical by 5.1% in the first quarter. Bank of New York Mellon Corp now owns 225,574 shares of the company’s stock valued at $462,000 after purchasing an additional 10,905 shares during the last quarter. Finally, State Street Corp grew its holdings in Rockwell Medical by 8.0% in the first quarter. State Street Corp now owns 1,128,359 shares of the company’s stock valued at $2,313,000 after purchasing an additional 83,812 shares during the last quarter. 21.09% of the stock is currently owned by hedge funds and other institutional investors.
About Rockwell Medical (NASDAQ:RMTI)
Rockwell Medical, Inc operates as a specialty pharmaceutical company that targets end-stage renal disease and chronic kidney disease with therapies and products for the treatment of iron deficiency and hemodialysis. The company offers Triferic, an iron therapy that replaces iron and maintains hemoglobin in dialysis patients without increasing iron stores; and Calcitriol, an active vitamin D injection for the management of hypocalcemia in patients undergoing chronic hemodialysis.
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