Wall Street Zen Upgrades Rockwell Medical (NASDAQ:RMTI) to Hold

Wall Street Zen upgraded shares of Rockwell Medical (NASDAQ:RMTI) from a sell rating to a hold rating in a research report released on Saturday morning.

Separately, HC Wainwright reduced their target price on shares of Rockwell Medical from $7.00 to $3.00 and set a “buy” rating on the stock in a report on Monday, March 24th.

Rockwell Medical Stock Performance

Shares of RMTI stock opened at $0.95 on Friday. The firm’s 50 day moving average price is $1.05 and its 200-day moving average price is $1.57. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.00 and a current ratio of 2.41. Rockwell Medical has a one year low of $0.86 and a one year high of $5.15. The firm has a market cap of $32.47 million, a P/E ratio of -19.00 and a beta of 1.61.

Rockwell Medical (NASDAQ:RMTI) last released its earnings results on Monday, May 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The business had revenue of $18.91 million for the quarter, compared to analyst estimates of $17.46 million. Rockwell Medical had a positive return on equity of 8.55% and a negative net margin of 1.25%. As a group, equities research analysts predict that Rockwell Medical will post 0.03 EPS for the current year.

Insider Buying and Selling at Rockwell Medical

In related news, major shareholder Larson Family Inve Irrevocable bought 57,000 shares of the company’s stock in a transaction that occurred on Thursday, April 10th. The shares were purchased at an average cost of $1.07 per share, with a total value of $60,990.00. Following the transaction, the insider now directly owns 3,527,000 shares of the company’s stock, valued at approximately $3,773,890. This represents a 1.64% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 10,680 shares of company stock valued at $11,552. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its stake in shares of Rockwell Medical by 285.8% in the 4th quarter. Renaissance Technologies LLC now owns 442,350 shares of the company’s stock worth $902,000 after acquiring an additional 327,678 shares during the period. Marshall Wace LLP lifted its stake in shares of Rockwell Medical by 17.2% in the 4th quarter. Marshall Wace LLP now owns 596,359 shares of the company’s stock worth $1,217,000 after acquiring an additional 87,685 shares during the period. Dimensional Fund Advisors LP acquired a new stake in shares of Rockwell Medical in the 4th quarter worth $146,000. LPL Financial LLC lifted its stake in shares of Rockwell Medical by 91.3% in the 4th quarter. LPL Financial LLC now owns 54,872 shares of the company’s stock worth $112,000 after acquiring an additional 26,191 shares during the period. Finally, XTX Topco Ltd lifted its stake in shares of Rockwell Medical by 58.0% in the fourth quarter. XTX Topco Ltd now owns 44,962 shares of the company’s stock valued at $92,000 after purchasing an additional 16,507 shares during the period. 23.31% of the stock is owned by hedge funds and other institutional investors.

Rockwell Medical Company Profile

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.