Zacks Investment Research lowered shares of Rockwell Medical (NASDAQ:RMTI) from a hold rating to a sell rating in a research report report published on Thursday.
According to Zacks, “Rockwell Medical Technologies, Inc. manufactures hemodialysis concentrates and dialysis kits, and sells, distributes and delivers such concentrates and dialysis kits, as well as other ancillary hemodialysis products, to hemodialysis providers in the United States. Hemodialysis is a process which is able to duplicate kidney function in patients whose kidneys have failed to function properly. “
Separately, BidaskClub upgraded shares of Rockwell Medical from a sell rating to a hold rating in a research report on Friday, December 15th.
Shares of Rockwell Medical (NASDAQ:RMTI) traded up $0.07 during trading hours on Thursday, hitting $5.87. 333,100 shares of the company were exchanged, compared to its average volume of 333,900. Rockwell Medical has a 12-month low of $5.06 and a 12-month high of $8.98. The company has a market capitalization of $310.05, a price-to-earnings ratio of -13.65 and a beta of 2.02.
Rockwell Medical (NASDAQ:RMTI) last issued its earnings results on Wednesday, November 8th. The company reported ($0.10) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.10). Rockwell Medical had a negative net margin of 39.28% and a negative return on equity of 46.63%. The firm had revenue of $14.63 million during the quarter, compared to analyst estimates of $13.33 million. During the same quarter in the prior year, the business earned ($0.09) earnings per share. Rockwell Medical’s revenue for the quarter was up 14.2% on a year-over-year basis. analysts anticipate that Rockwell Medical will post -0.44 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in Rockwell Medical by 6.5% during the third quarter. Bank of New York Mellon Corp now owns 249,489 shares of the company’s stock valued at $2,136,000 after purchasing an additional 15,271 shares during the last quarter. Athos Capital Ltd bought a new position in Rockwell Medical during the third quarter valued at $6,834,000. Raymond James Financial Services Advisors Inc. bought a new position in Rockwell Medical during the third quarter valued at $107,000. National Asset Management Inc. bought a new position in Rockwell Medical during the second quarter valued at $203,000. Finally, State Street Corp lifted its position in Rockwell Medical by 7.4% during the second quarter. State Street Corp now owns 903,142 shares of the company’s stock valued at $7,160,000 after purchasing an additional 62,094 shares during the last quarter. Institutional investors and hedge funds own 21.26% of the company’s stock.
About Rockwell Medical
Rockwell Medical, Inc (Rockwell) is a biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis. The Company operates through the hemodialysis market segment, which involves the manufacture, sale and distribution of hemodialysis products to hemodialysis clinics, including pharmaceutical, dialysis concentrates, dialysis kits and other ancillary products used in the dialysis process.
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