Rockwell Medical (NASDAQ:RMTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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 downgraded Rockwell Medical from a “hold” rating to a “sell” rating in a research note on Friday, December 22nd.

Shares of Rockwell Medical (NASDAQ:RMTI) traded up $0.16 during midday trading on Thursday, reaching $5.80. The company’s stock had a trading volume of 284,300 shares, compared to its average volume of 334,300. The company has a market cap of $301.77, a price-to-earnings ratio of -13.49 and a beta of 2.02. Rockwell Medical has a 1-year low of $5.06 and a 1-year high of $8.98.

Rockwell Medical (NASDAQ:RMTI) last issued its earnings results on Wednesday, November 8th. The company reported ($0.10) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.10). Rockwell Medical had a negative return on equity of 46.63% and a negative net margin of 39.28%. The business had revenue of $14.63 million during the quarter, compared to analyst estimates of $13.33 million. During the same period in the previous year, the company posted ($0.09) EPS. Rockwell Medical’s revenue was up 14.2% on a year-over-year basis. research analysts expect that Rockwell Medical will post -0.44 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Rockwell Medical by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 2,080,843 shares of the company’s stock worth $16,501,000 after acquiring an additional 90,786 shares during the period. State Street Corp raised its holdings in Rockwell Medical by 7.4% in the 2nd quarter. State Street Corp now owns 903,142 shares of the company’s stock worth $7,160,000 after purchasing an additional 62,094 shares during the period. Northern Trust Corp raised its holdings in Rockwell Medical by 4.8% in the 2nd quarter. Northern Trust Corp now owns 618,045 shares of the company’s stock worth $4,901,000 after purchasing an additional 28,482 shares during the period. Bank of New York Mellon Corp raised its holdings in Rockwell Medical by 6.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 249,489 shares of the company’s stock worth $2,136,000 after purchasing an additional 15,271 shares during the period. Finally, Athos Capital Ltd acquired a new position in Rockwell Medical in the 3rd quarter worth about $6,834,000. 21.26% of the stock is owned by institutional investors.

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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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