Rockwell Medical Inc. (RMTI) Stock Rating Reaffirmed by BTIG Research
Rockwell Medical Inc. (NASDAQ:RMTI)‘s stock had its “buy” rating reaffirmed by research analysts at BTIG Research in a report issued on Thursday.
Separately, Zacks Investment Research raised shares of Rockwell Medical from a “sell” rating to a “hold” rating in a report on Thursday, August 11th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $11.00.
Shares of Rockwell Medical (NASDAQ:RMTI) traded up 6.56% during midday trading on Thursday, hitting $6.98. The company’s stock had a trading volume of 503,723 shares. The stock’s 50 day moving average is $7.18 and its 200-day moving average is $7.79. Rockwell Medical has a 52-week low of $5.47 and a 52-week high of $13.50. The firm’s market cap is $359.65 million.
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Rockwell Medical (NASDAQ:RMTI) last announced its earnings results on Monday, August 8th. The company reported ($0.11) earnings per share 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 business earned $12.50 million during the quarter, compared to analysts’ expectations of $13.86 million. During the same quarter in the previous year, the firm earned ($0.05) EPS. Rockwell Medical’s quarterly revenue was down 3.5% on a year-over-year basis. Equities analysts predict that Rockwell Medical will post ($0.37) EPS for the current fiscal year.
In other Rockwell Medical news, Director Kenneth L. Holt sold 8,075 shares of the business’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $6.81, for a total transaction of $54,990.75. Following the sale, the director now owns 46,858 shares of the company’s stock, valued at approximately $319,102.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth L. Holt sold 3,692 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $7.31, for a total transaction of $26,988.52. Following the sale, the director now directly owns 63,475 shares in the company, valued at approximately $464,002.25. The disclosure for this sale can be found here. Company insiders own 15.90% of the company’s stock.
A number of large investors have recently modified their holdings of RMTI. Starfire Investment Advisers Inc. acquired a new stake in shares of Rockwell Medical during the second quarter worth about $100,000. WealthTrust Axiom LLC purchased a new position in Rockwell Medical during the second quarter valued at $100,000. Paloma Partners Management Co purchased a new position in Rockwell Medical during the second quarter valued at $125,000. Rehmann Capital Advisory Group boosted its position in Rockwell Medical by 3.6% in the first quarter. Rehmann Capital Advisory Group now owns 17,286 shares of the company’s stock valued at $130,000 after buying an additional 600 shares during the last quarter. Finally, InterOcean Capital LLC boosted its position in Rockwell Medical by 3.0% in the second quarter. InterOcean Capital LLC now owns 19,165 shares of the company’s stock valued at $145,000 after buying an additional 550 shares during the last quarter. 21.72% of the stock is currently owned by institutional investors and hedge funds.
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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