Rockwell Medical (NASDAQ:RMTI) Upgraded at Wall Street Zen

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

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

Rockwell Medical Stock Up 1.1%

NASDAQ:RMTI opened at $0.95 on Friday. The company’s 50-day simple moving average is $1.05 and its 200-day simple moving average is $1.57. The stock has a market capitalization of $32.47 million, a P/E ratio of -19.00 and a beta of 1.61. 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 fifty-two week low of $0.86 and a fifty-two week high of $5.15.

Rockwell Medical (NASDAQ:RMTI) last released its earnings results on Monday, May 12th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The company had revenue of $18.91 million during 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%. On average, equities analysts anticipate that Rockwell Medical will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Rockwell Medical

In related news, major shareholder Larson Family Inve Irrevocable bought 57,000 shares of the business’s stock in a transaction dated Thursday, April 10th. The stock was acquired at an average price of $1.07 per share, with a total value of $60,990.00. Following the completion of the purchase, the insider now directly owns 3,527,000 shares of the company’s stock, valued at approximately $3,773,890. This trade represents a 1.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 10,680 shares of company stock valued at $11,552. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Rockwell Medical

Several institutional investors and hedge funds have recently bought and sold shares of RMTI. Raymond James Financial Inc. acquired a new position in Rockwell Medical in the 4th quarter valued at about $28,000. LPL Financial LLC boosted its holdings in Rockwell Medical by 91.3% in the 4th quarter. LPL Financial LLC now owns 54,872 shares of the company’s stock valued at $112,000 after purchasing an additional 26,191 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Rockwell Medical by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 320,416 shares of the company’s stock valued at $654,000 after purchasing an additional 13,122 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Rockwell Medical by 285.8% in the 4th quarter. Renaissance Technologies LLC now owns 442,350 shares of the company’s stock valued at $902,000 after purchasing an additional 327,678 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Rockwell Medical by 27.5% in the 4th quarter. Barclays PLC now owns 28,854 shares of the company’s stock valued at $59,000 after purchasing an additional 6,229 shares during the last quarter. 23.31% of the stock is currently owned by institutional investors and hedge funds.

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.