Rockwell Medical Inc. (RMTI) Stock Price Down 4.3% on Insider Selling
Rockwell Medical Inc. (NASDAQ:RMTI) dropped 4.3% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $6.32 and last traded at $6.42, with a volume of 280,923 shares. The stock had previously closed at $6.71.
Specifically, Director Kenneth L. Holt sold 3,692 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $7.31, for a total transaction of $26,988.52. Following the completion of the sale, the director now directly owns 63,475 shares of the company’s stock, valued at $464,002.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth L. Holt sold 9,520 shares of the stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $6.37, for a total value of $60,642.40. Following the transaction, the director now directly owns 56,048 shares of the company’s stock, valued at $357,025.76. The disclosure for this sale can be found here. 15.90% of the stock is owned by insiders.
Several equities analysts have weighed in on RMTI shares. BTIG Research started coverage on Rockwell Medical in a report on Friday, August 19th. They set a “buy” rating and a $12.00 price objective for the company. Zacks Investment Research lowered Rockwell Medical from a “hold” rating to a “sell” rating in a report on Thursday, August 4th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $11.00.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/rockwell-medical-inc-rmti-stock-price-down-4-3-on-insider-selling.html
The company’s market capitalization is $335.41 million. The company has a 50-day moving average price of $7.21 and a 200-day moving average price of $7.80.
Rockwell Medical (NASDAQ:RMTI) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.01. Rockwell Medical had a negative return on equity of 28.90% and a negative net margin of 33.04%. The company earned $12.50 million during the quarter, compared to the consensus estimate of $13.86 million. During the same period in the prior year, the firm earned ($0.05) earnings per share. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities research analysts anticipate that Rockwell Medical Inc. will post ($0.37) EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Rehmann Capital Advisory Group raised its position in shares of Rockwell Medical by 3.6% in the first quarter. Rehmann Capital Advisory Group now owns 17,286 shares of the company’s stock worth $130,000 after buying an additional 600 shares during the last quarter. BlackRock Group LTD raised its position in shares of Rockwell Medical by 265.1% in the first quarter. BlackRock Group LTD now owns 28,328 shares of the company’s stock worth $213,000 after buying an additional 20,570 shares during the last quarter. Provident Investment Management Inc. raised its position in shares of Rockwell Medical by 4.0% in the first quarter. Provident Investment Management Inc. now owns 26,108 shares of the company’s stock worth $196,000 after buying an additional 1,000 shares during the last quarter. State Street Corp raised its position in shares of Rockwell Medical by 4.0% in the first quarter. State Street Corp now owns 858,425 shares of the company’s stock worth $6,451,000 after buying an additional 33,175 shares during the last quarter. Finally, UBS Group AG raised its position in shares of Rockwell Medical by 45.8% in the first quarter. UBS Group AG now owns 68,900 shares of the company’s stock worth $517,000 after buying an additional 21,629 shares during the last quarter. Institutional investors own 21.72% 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.
Receive News & Ratings for Rockwell Medical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rockwell Medical Inc. and related companies with MarketBeat.com's FREE daily email newsletter.