Rockwell Medical (RMTI) Stock Rating Upgraded by BidaskClub

Rockwell Medical (NASDAQ:RMTI) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Separately, Zacks Investment Research upgraded Rockwell Medical from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th.

Rockwell Medical (RMTI) traded up $0.23 during mid-day trading on Friday, hitting $6.10. The stock had a trading volume of 424,961 shares, compared to its average volume of 309,658. The stock has a market cap of $303.84, a P/E ratio of -14.19 and a beta of 2.02. Rockwell Medical has a 52-week low of $5.06 and a 52-week high of $8.98.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teachers Advisors LLC lifted its position in Rockwell Medical by 1.5% during the second quarter. Teachers Advisors LLC now owns 88,772 shares of the company’s stock valued at $704,000 after purchasing an additional 1,335 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in Rockwell Medical by 1.1% during the second quarter. TIAA CREF Investment Management LLC now owns 132,131 shares of the company’s stock valued at $1,048,000 after purchasing an additional 1,401 shares in the last quarter. Voya Investment Management LLC lifted its position in Rockwell Medical by 11.9% during the second quarter. Voya Investment Management LLC now owns 27,232 shares of the company’s stock valued at $216,000 after purchasing an additional 2,895 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in Rockwell Medical by 38.3% during the second quarter. UBS Asset Management Americas Inc. now owns 19,843 shares of the company’s stock valued at $157,000 after purchasing an additional 5,500 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Rockwell Medical during the third quarter valued at $107,000. Institutional investors own 21.26% of the company’s stock.

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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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